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Xiao Jiang sees the market: Short-term supply of tight prices oscillated upwards to Monday's Bank of England holiday and the LME was closed. This week, copper prices have risen and fell, prices have been under pressure in the position of 2755 US dollars, showing a narrow range of volatility. There are several reasons: First, the workers of Toquepala and Cuajone, two copper mines of the Southern Peru Copper Mines Company (SPCC), said on the 26th that due to the strong copper price, the company is required to raise the workers' salary level, modify the current labor contract, and cancel the company’s Mining plans to merge branches, otherwise workers will strike on August 31st. The total concentrate production capacity of these two copper mines is about 350,000 tons. The threat of strikes made copper prices supported by short-term supply and demand, and copper prices rose. The second is the weakening of the U.S. dollar. The U.S. Department of Labor announced on Thursday that the number of jobless claims in the United States rose to 343,000 in the week of August 21st, and that the monthly sales of new homes in July fell 6.4% to 1.134 million sets per month, the lowest since 2004;8 On the 20th of the month, the U.S. leading indicator slipped to 131.4; the U.S. Department of Commerce announced on Friday that in the second quarter of this year, the U.S. economy grew at an annual rate of only 2.8%, which is lower than the previously announced 3%. Slower growth since the quarter. The U.S. Department of Commerce announced on Monday that the U.S. personal income rose by 0.1% in July and 0.2% in June; the personal consumption expenditure (PCE) price index was flat in July and grew by 0.2% in June; the annual growth rate of the PCE price index in July was 2.4. %, the annual core PCE rate is 1.5%. Because expenditures were higher than expected, and income was less than expected, economic growth slowed down. This weighed on the dollar, the dollar started to slide against European currencies on Monday, and copper prices continued to move closer to the range, providing good support for the rise in copper prices. Third, LME copper stocks continued to decrease by 700 tons to 107,825 tons on Friday, and the shortage of spot prices boosted copper prices. Shanghai Copper futures rose on the back of strong spot copper, with the main trend of oscillators rising. On Mondays and Tuesdays, the main contracts of Shanghai copper all had gains of 100-400 yuan. The trading volume was significantly enlarged, and the positions increased by about 7,000 hands. The trend in recent months was significantly stronger than that in the far month. At present, the spot market for non-ferrous metals in Shanghai's non-ferrous metals market in East China and even in the country’s larger copper trading market has reached a high spot of RMB 900-1,000/t for spot copper for 10 consecutive days. Spot copper supply is in short supply, and each trader aims at it daily. Only a few suppliers are available and are rushing to buy goods. The actual operation of these companies under these backgrounds is the competition of strength, capital competition and credit competition. Aluminium: Shanghai Aluminum maintained its oscillation at a relatively high level this week. The main contract 0411 increased from the 16,000 yuan opened last Friday to this week's high of 16,210 yuan. Both long and short sides competed for the 16,000 mark, but overall Shanghai Aluminum remained a strong consolidation trend. Due to the recent strong alumina prices, electrolytic aluminum prices should be supported, the spot is therefore relatively strong, the price is supported at 16,000 yuan / ton.