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[overnight quotation] most of the metal on the outer disk declines in inventory data, which is good for oil prices to return to the 40 mark.
Sep 10,2020 07:03CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 10: yesterday, the outer disk metal fluctuated in a narrow range, Lun Copper rose 0.74%, Lun Al fell 0.64%, Lun Zinc rose 0.25%, Lunni fell 0.17%, Lunxi fell 0.06%, and Lun lead fell 1.1%. In the domestic market, Shanghai copper is up 0.75%, Shanghai aluminum is up 0.03%, Shanghai zinc is down 0.05%, Shanghai lead is down 0.88%, Shanghai nickel is up 0.02%, Shanghai tin is up 0.26%, thread is down 0.54%, and stainless steel is down 0.35%.

The dollar index fell 0.24% to 93.25, its first day of decline this month, after rising to a four-week high of 93.664 earlier. The safe-haven dollar was also weighed down by improved risk sentiment as U.S. stocks rebounded from the slump and commodity currencies strengthened as crude oil prices rose.

The three major indexes of US stocks closed higher, with the S & P 500 up 67.10 points, or 2.01%, at 3398.96; the NASDAQ closed up 293.90 points, or 2.71%, at 11141.56; and the Dow Jones Index closed up 439.60 points, or 1.60%, at 27940.47.

In precious metals, COMEX December gold futures closed up 0.6% at $1954.90 an ounce. Gold's safe-haven appeal has been enhanced by a decline in the dollar and fears among investors that the development of a coronal vaccine will be delayed.

In terms of crude oil, WTI October crude oil futures closed up $1.29, or 3.51%, to settle at $38.05 per barrel, while Brent November crude oil futures closed up $1.01, or 2.5%, to settle at $40.79 per barrel. It was boosted by expectations that US crude oil inventories would continue their downward trend.

On the data side, China's CPI rose 2.4 per cent in August from a year earlier, with an expected increase of 2.4 per cent and a previous increase of 2.7 per cent. China's PPI fell 2 per cent in August from a year earlier, with an expected decline of 1.9 per cent and a 2.4 per cent drop in the previous value.

Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics: in August, industrial production continued to improve, market demand continued to recover, and international commodity prices such as crude oil, iron ore and non-ferrous metals continued to rise, driving domestic industrial product prices to rise. Affected by changes in international crude oil prices, price increases in oil-related industries have slowed down, with prices in the oil and natural gas mining industry rising 3.6 per cent.

In the United States, there were 6.618 million JOLTS job openings in July, compared with an expected 6 million, compared with a previous value of 5.889 million.

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