[SMM Express] LME opens collective uplink LME copper futures rebound and market sentiment warms up

SMM1 31: a few days ago due to the impact of domestic events, LME most metal futures continued to decline. However, after the opening of the LME market today, non-ferrous metals generally rose, LME copper led the rise, as of the release of LME copper rose 1.55%, LME zinc LME nickel rose more than 1%.

Copper time-sharing diagram of LME period

Although LME copper fell to a five-month low, the latest inventory statistics show that LME copper stocks fell by 1275 tons, which is a strong support for the subsequent rebound. Inventories have fallen by more than 45 per cent since the end of August to 182550 tonnes. According to the survey, analysts on average expect the copper market to be short of 160000 tons this year, with the size of the copper market estimated at about 24 million tons.

Lead disk total position is low, the financial industry intervention is less, liquidity depletion has always been a lead problem, the future may have the possibility of oligarchs continue to smash the market, zinc liquidity is better, but because of market expectations, zinc is still short allocation varieties, short expectations of the emergence of poor expectations, or to the financial industry and industry customers more confidence in shorting and preservation.

According to SMM, the total position of lead disk is low, the financial industry is less involved, liquidity depletion has always been the problem of lead, the future may have the possibility of oligarchs continue to smash the market, zinc liquidity is better, but because of market expectations, zinc is still short allocation varieties, the emergence of short expectations, or to the financial industry and industry customers stronger shorting and preservation of confidence.

In addition, British local media reported on the 31st that Britain officially left the European Union at 23:00 local time. An hour before Brexit, British Prime Minister Johnson will make a televised speech, saying that "Brexit is not the end, but the beginning, this is a real time for national rejuvenation and change." After that, Britain will enter a transitional period, and most EU laws will remain in force until the end of December, when the UK intends to reach a permanent trade agreement with the EU.

The dollar index fell briefly and continued to rise today

After rising to a nearly two-month high of 98.191 in a row, the US index fell sharply yesterday as a result of mixed fourth-quarter GDP and consumer data. The data showed that the initial annualized rate of real GDP in the fourth quarter was 2.1%, flat and higher than expected. But the US core PCE price index recorded an annualised quarterly rate of 1.30 per cent in the fourth quarter, below expectations of 0.3 per cent and below previous levels. But after a brief correction, the US index turned red again today.

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