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[overnight quotation] the outer disk metal closed down across the board. EIA crude oil stocks unexpectedly rose and oil prices fell again.

iconSep 11, 2020 06:43
Source:SMM

SMM9 March 11: yesterday, the outer disk metal fell across the line, Lun Copper fell 1.86%, Lun Al fell 0.31%, Lun Zinc fell 1.22%, Lunni fell 0.67%, Lunxi fell 0.47%, and Lunxi fell 1.08%. In the domestic market, shanghai copper fell 1.33%, shanghai aluminum fell 0.73%, shanghai zinc fell 0.62%, shanghai lead fell 1.91%, shanghai nickel fell 0.54%, shanghai tin fell 0.97%, thread dropped 0.66%, and stainless steel fell 0.32%.

The dollar index rose 0.16 per cent to 93.39; data showed that the number of US initial jobless claims in the week ended September 5 was seasonally adjusted to 884000, unchanged from the previous week, while the dollar fell; however, the US producer price index was better than expected, with the overall price index up 0.3 per cent and the core price index up 0.4 per cent.

The three major indexes of US stocks closed down, with the S & P 500 closing down 59.90 points, or 1.76%, at 3339.05; the NASDAQ closed down 222.00 points, or 1.99%, at 10919.59; and the Dow Jones Index closed down 405.90 points, or 1.45%, at 27534.58.

In precious metals, COMEX December gold futures closed up 0.5% at $1964.30 an ounce. A stronger dollar weighed on gold prices, while U. S. stocks tumbled and gold holders sold gold due to liquidity demand.

In terms of crude oil, WTI October crude oil futures closed down 75 cents, or 1.97 percent, to settle at 37.30 US dollars per barrel, while Brent November crude oil futures closed down 73 US dollars, or 1.79 per cent, to settle at 40.06 US dollars per barrel. Us government data show that domestic crude oil supply has increased, gasoline demand has shaken, and oil prices have resumed their downward trend.

On the data side, the pre-value of the main refinancing rate of the European Central Bank before 0.005% is expected to announce 0% from September 10 to September 10.

The European Central Bank left its three key interest rates unchanged, in line with market expectations.

The number of initial jobless claims in the United States (10,000) in the week from September 5 to September 5 is 88.1 expected to be 84.6 revised 88.4 (previous value) announced 88.4

Financial blog Zero hedging Review data on initial applications for unemployment benefits in the United States this week: the number of initial claims for unemployment benefits in the United States recorded 884000 in the week to September 5, which is exactly the same as the last revised data, which is strange, while the data for renewed claims for unemployment benefits rose. In fact, the proportion of part-time jobs among laid-off workers has rebounded a lot since bottoming out in April. The data of full-time employment growth is high, but the proportion is low. In four months, part-time employment rebounded by 68.1% and full-time employment by 47.9%. Overall, the employment recovery is only 54.8%.

The pre-value of EIA crude oil inventory (10,000 barrels) for the week ending September 4 in the United States-936.2 expected-133.5 announced 203.2

EIA reported that domestic crude oil production in the United States increased by 300000 barrels to 10 million barrels per day last week. The average four-week supply of crude oil products in the United States was 18.109 million barrels per day, down 16 percent from the same period last year.

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