SMM12 March 18: yesterday, the outer disk metal market was red, fat and thin, with Lun copper up nearly 1%, Lunzn zinc and Lun aluminum up nearly 0.1%, Lunni down nearly 0.2%, Lunxi up nearly 0.4%, and Lun lead down 0.5%. London Metal Exchange (LME) three-month copper rose on Friday, but after breaking through the $8000 per ton mark, the increase narrowed somewhat, and high prices suppressed physical demand, making some investors cautious. LME copper stocks fell to 123400 tonnes, the lowest level since late September, according to exchange data released on Friday. As of Friday, copper stocks had fallen to 74222 tonnes, the lowest level since December 2011. On December 17th (COMEX) 's copper inventory on the New York Mercantile Exchange stood at 79180 tons. Domestically, Shanghai copper and international copper rose nearly 0.3%, Shanghai aluminum fell nearly 1%, Shanghai lead rose nearly 0.5%, Shanghai nickel fell nearly 0.3%, Shanghai zinc was flat, and Shanghai tin fell nearly 0.3%.
The dollar index rebounded slightly on Friday, but remained near the two-and-a-half-year low it hit a day ago. For buyers in other currencies, a weaker dollar makes oil and other commodities cheaper for buyers in other currencies. Members of Congress are trying to agree on a new $900 billion bailout by the deadline, but they are likely to pass a third temporary spending bill to avoid a midnight government shutdown.
In terms of US stocks, they closed down last Friday. The US federal government is about to be partially shut down, and Congress is still trying to reach an agreement on fiscal stimulus and government financing. FDA is approving the Moderna novel coronavirus vaccine. The Dow fell 124.32 points, or 0.41%, to 30179.05; the Nasdaq fell 9.11 points, or 0.07%, to 12755.64; and the S & P 500 fell 13.07 points, or 0.35%, to 3709.41.
In terms of crude oil, international oil prices closed higher on Friday, rising for the seventh consecutive week as investors were concerned about the launch of novel coronavirus vaccine and the dollar fell this week. Oil prices were also supported by weekly data showing that US crude oil inventories fell 3.1 million barrels last week, more than expected by 1.9 million barrels. The OPEC Group, made up of the Organization of Petroleum Exporting countries ((OPEC)) and its allies, is supporting market prices by slowing the pace of planned production next year.
In terms of precious metals, gold prices fell on Friday after three consecutive sessions of gains, as the dollar's rebound outweighed support from hopes of a US fiscal stimulus package. Analysts pointed out that the trend of gold is completely dependent on the economic stimulus package negotiations. If there is positive momentum for a stimulus deal, the gold market will soar, and if there is any sign that the deal will be delayed, the market will fall back.
On the data side, Germany's IFO business climate index for December, the previous value of 90.7, expected 90, released 92.1, revised 90.9 (previous value).
IFO Economist, a German think-tank: industrial orders look very good. The situation in the chemical and machinery industries in Germany has improved. Industrial demand is driven by domestic consumers and industrial exports are expected to increase slightly. Germany's GDP is expected to be-0.4 per cent in the fourth quarter of this year.
Us current account for the third quarter (US $100 million), previous value-1705, expected-1890, published-1785, revised-1614 (previous value).
Us Bureau of Economic Analysis: in the third quarter of 2020, current account transactions in all major categories increased after a significant decline in the second quarter, reflecting the resumption of trade and other business activities delayed or restricted by the COVID-19 epidemic.
The total number of oil drilling in the United States in the week to December 18, with a previous value of 258, is expected to be 264, and 263 was announced.
