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Copper Import Decline Expanded or Continued to Decline on 09
Release time:2019-05-10Browse times:47

ABSTRACT: The renewed international trade situation has boosted the market's risk aversion sentiment. Overnight, Lun Tong took a pressure drop of $29. China's copper imports in April expanded, indicating the expansion of domestic production capacity. It is expected that copper will continue to fall today.


The rebirth of the international trade situation boosted the market's risk aversion sentiment. Overnight, Lun Copper fell $29 under pressure. China's copper imports in April expanded, indicating the expansion of domestic production capacity. It is expected that copper will continue to fall today.




[Copper Futures Market] The renewed international trade situation, as well as the intensification of geopolitical tensions, has boosted the market's risk aversion mood. Overnight, Lun Tong rose and fell. The latest closing price was $6133/ton, down by $29, or 0.46%. The turnover of 22157 decreased by 4420 hands, and the position of 291388 hands increased by 3651 hands. In the evening, Shanghai Copper opened low. The latest closing price of main contract 1906 was 47620 yuan/ton, down 290 yuan, or 0.61%.




China's exports grew negatively in April, with import growth reaching a six-month high, with its trade surplus expanding by 26% in the first four months; China's imports of Unforged copper in April increased by 405,000 tons, but fell by 8.4% year-on-year; imports of Unforged copper in January-April dropped by 5.1% year-on-year, and copper imports declined by 5.1% year-on-year. Expansion of copper imports showed expansion of domestic production capacity, and spot copper prices are expected to continue to fall today.



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