Construction Information (09.01): Copper and aluminum recently added a "Risk Warning" column to describe the risk of long and short positions through the icon image of a star flag, which can be used as a reference for investors when dealing with open positions. In actual operation, investors need to take specific control based on their own short-medium-term trading strategies and different types of fluctuation characteristics. The specific star classification criteria are as follows: ☆ The reverse run range of new-year closing price may be less than 2%. ☆ ☆ The reverse run range of new-year closing price may be greater than 2%. ☆☆ ☆ The price range is reversed from the newer closing. The rate may be greater than 3%. ☆☆☆☆ The reverse run of the period from the newer closing may be greater than 4%. ☆☆☆☆☆ The reverse run of the period from the newer closing may be greater than 5%. Risk Warning: Bulls: ☆ Short Risks: ☆ Tips before the break: Orient: Copper: Under the support of the copper strike and the sharp weakening of the US dollar, the copper in LME rose volatility in March. It ended up closing at 2797 US dollars/ton, up 38 US dollars from the previous trading day. Tons, fluctuations in the range of 2802 ~ 2762 US dollars / ton. The Toquepala and Cugjione copper miners of South Peru Copper Company started a strike at 19.30 GMT yesterday evening, but the company stated that it will ensure that copper production will not be affected by the strike. Several important economic data released by the United States yesterday were not satisfactory. The US purchasing managers' index in Chicago fell to 57.3 in August, and consumer confidence in the United States dropped to 98.2 in August. Unfavorable economic data made the US dollar subject to greater pressure and there was a sharp increase. However, the Chicago PMI in July rose to 64.7 in July from 56.4 in June. The figure is greater than 50. It indicates that the growth is continuous for 16 months, which implies that the US economy is in a healthy recovery. The decline of the US dollar has supported copper prices. The rise. Yesterday, the domestic copper exhibited a trend of a sharp decline, but the overall trend was stronger. The final price of the main contract was closed at 26,090 yuan/ton in December, up by 210 yuan/ton from the previous trading day. The domestic spot price appeared to fall. The spot price yesterday was 29,050~29,250 yuan/ton, and the premium was 450~650 yuan/ton. Aluminium: Yesterday, LME March aluminum showed a narrow range of fluctuations, the closing position was able to break through the resistance of the first line of 1700 US dollars, compared to the final income of 1699 US dollars, LME aluminum stocks continued to decline to provide support for aluminum prices. Domestic Shanghai Aluminum continued the rebound yesterday, once punctured in the session, but encountered resistance along the previous period. The main contract ended in November at 16,070 yuan/ton, and the recent aluminum price is still in the 16200~15800 box. In shock. Yesterday, the spot price of domestic aluminum rose slightly, to 15930 ~ 15950 yuan / ton. Ma Hongqing: LME copper prices rose during the trading on Tuesday in South Peru copper miners’ strikes and the depreciation of the US dollar. The execution of options on the previous Wednesday in September was also one of the factors that contributed to the rise in copper prices, but it is clear that these support copper price increases. Factors cannot stand still in the long run. The drastic decline in the LME copper market's position level means that the rising kinetic energy is insufficient, and the market is worried that the increase in inventory and the rapid rise of the TC/RC will dampen the determination of the bulls. Technically, copper prices will likely test up to the 2830/2840 pressure level, and there is little possibility of further increases. It is expected that Shanghai CU CU412 will continue to test the pressure of the 26300 line on Wednesday, and investors are advised to take a few shorts on this line again. Daily commentary: He Haihai: COMEX copper closed higher on Monday, the London Metal Exchange (LME) closed due to the UK public holiday, there was no progress in the fundamentals, the market fell into a narrow range range. Shanghai copper prices opened higher today, the trend performance Strong. Market transactions were significantly enlarged, but not very active. The U.S. Department of Commerce announced on Monday that the U.S.’s personal income grew by 0.1% in July and 0.2% in June; the personal consumption expenditure (PCE) price index was flat in July, and was 0.2% in June. In July, the PCE price index grew at an annual rate of 2.4%, and the core PCE rate was 1.5% at an annual rate. Analysts surveyed by Reuters predicted that personal income grew by 0.5% in July and personal spending rose by 0.7%. In the stock market, US stock market technology Shares tumbled on Monday, while blue chip stocks also fell in quiet trading. Due to security concerns surrounding the Republican National Convention and concerns about corporate profits, investors left the market. The NYSE’s trading volume is this year In the New York market, the US dollar fell against European currencies on Monday, as traders locked in profits, but the US dollar did not test important support before the US announced the non-farm payroll report later this week. Copper prices may be affected by Peruvian copper producers. Because of the strike due to labor issues, the price of copper rose slightly and the fundamentals did not change. On Tuesday, the Consumer Confidence Index and the Chicago Purchasing Managers Index will be released. It is expected that the data will trend against the US dollar. Health impact. Technically, Shanghai and London's copper are now showing signs of a temporary low stabilization. London copper is once again stabilizing above $2,750. The price has continued to explore above the $2800 requirement. Operational advice: Moderate short-selling for overseas express delivery: LME Market report: London August 31 news: The London Metal Exchange (LME) benchmark copper price rose for three months on Tuesday after the US dollar weakened and the South Peruvian copper company went on strike. In the intraday trading session, it tested resistance at $2,800 twice, but none of them broke. The day was higher at 2,797 USD and closed at 2,785 USD. Workers of the Toquepala and Cuajone copper miners of Southern Peru Copper Corps began their strike at 19:30 on the 31st Beijing time, which supported the price of copper. However, the company said it will guarantee that copper production will not be affected by the strike. Analysts said that the weakening of the US dollar has attracted speculators and consumers outside the United States to enter the market, which has provided some support for the futures prices of copper and aluminum futures. Traders said they will pay close attention to changes in copper stocks. On the 31st, LME copper stocks fell 2,875 metric tons to 104,950 metric tons. It is expected that the benchmark three-month copper price upward resistance will be 2,800 US dollars, and the downward support will be 2,775 US dollars and 2,750 US dollars. Affected by the increase in inventories, the benchmark three-month nickel price fell on the 31st and closed below the resistance level of $12,500. On the 31st, LME nickel inventories increased by 1,056 metric tons to 11,502 metric tons. However, analysts said that it is currently in an oversold state and is expected to test the resistance at $12,700 in the week of August 30th. COMEX Copper Market Report: NEW YORK, August 31. News: December copper prices on the New York Mercantile Exchange (Comex) closed higher on Tuesday due to weaker US dollar and strikes by South Peruvian copper companies. It rose 1.65 cents to close at 128.10 cents/lb. It was 126.10 cents lower and 128.50 cents higher throughout the day. Workers of the Toquepala and Cuajone copper miners of Southern Peru Copper Corps began their strike at 19:30 on the 31st Beijing time, which supported the price of copper. Strike workers demanded salary increases and asked the company to stop the merger with Mexico’s Minera. Traders said that the lower-than-expected US August Chicago purchasing managers' index and consumer confidence index led to a weaker US dollar, which attracted speculators and consumers outside the United States to enter the market and provided support for the price of copper. The US August Chicago Purchasing Managers Index fell to 57.3 from 64.7 in July. The previous estimate was 60.0. In August, the consumer confidence index fell to 98.2 from 105.7 in July. The previous estimate was 103.5 to 104.0. Another factor supporting price increases is the decline in copper stocks. The current market concerns about the increase of copper inventories of LME gradually weakened, but this does not mean that there is no, LME copper stocks may increase. On the 31st, LME copper stocks fell 2,875 metric tons to 104,950 metric tons. On the 30th, COMEX copper inventories fell by 1,049 metric tons to 62,993 metric tons.
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