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[overnight quotation] the metal on the outer disk rose and fell each other, the high callback of Lun copper rose 0.71%.
Jul 6,2020 00:00CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 6: last Friday, the Lunpan metal market was mixed. Luntan fell 1.29%, Lun Aluminum fell 0.74%, Lunzn Zinc fell 0.42%, Lunni rose 0.43%, Lunxi rose 0.18%, and Lunxi lead rose 0.71%. In the domestic market, Shanghai copper fell 0.59%, Shanghai aluminum rose 0.43%, Shanghai zinc fell 0.18%, Shanghai lead fell 0.71%, Shanghai nickel rose 0.49%, Shanghai tin rose 0.43%, thread rose 0.44%, and stainless steel fell 0.26%. Lun Copper led the decline on Friday, with a sharp correction in its earlier rally and the EU's refusal to add the US to the list of "safe countries", which meant that trade in Europe and the US was still restricted and global demand needed more time to recover.

The dollar fell slightly on Friday, its biggest weekly decline in nearly four weeks, as positive Chinese economic data boosted risk sentiment and the US economy could be hit by a surge in new cases. The dollar index fell 0.07% to 97.15; it fell 0.36% last week, the biggest weekly decline in nearly four weeks. Several states have delayed plans to reopen stores and resume normal activities, and some have even re-imposed restrictions.

For US stocks, the market will be closed for the Independence Day holiday.

In terms of crude oil, WTI August crude oil futures closed down 33 cents, or 0.81 percent, at 40.32 U.S. dollars per barrel, while Brent September crude oil futures closed down 36 cents, or 0.84 percent, at 42.78 U.S. dollars per barrel. Crude oil both rose more than 2 per cent on Thursday, boosted by better-than-expected US jobs data and falling oil inventories; however, oil prices were weighed down by a rise in the number of new cases in a single day around the world and the US.

In terms of precious metals, COMEX August gold futures closed down 0.15% at $1787.3 an ounce. Analysts believe that although the U. S. jobs report is optimistic, more data is needed to show that the economy is on a solid footing. Gold may trade in a narrow range, but it is still well supported above $1750.

In terms of data,

Total number of oil rigs in the United States for the week to July 3. Pre-value: 188 expected: 185 announcement: 185

Baker Hughes oil suit: American oil drilling company cut the number of oil and gas drilling to an all-time low for the ninth week in a row.

China's Caixin service industry PMI before June: 55 expected: 53.2 announcement: 58.4

Wang Zhe, senior economist at Caixin think tank: production in manufacturing and services expanded synchronously with demand in June. As the epidemic had a greater impact on the service industry, in the post-epidemic period, the service industry showed a stronger momentum of recovery than the manufacturing industry. The export demand of the service industry is repairing, and the external demand of the manufacturing industry is still under great pressure. Employment remains a top priority, with employment in both manufacturing and services shrinking in June. To solve the employment problem, we not only need to further promote the resumption of production and work at the macro level, but also rely on the government to introduce more targeted relief measures at the micro level to help enterprises tide over the difficulties.

Overnight important financial data:

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