129833943177656250_339Macro-bad fuse into non-ferrous metals fell vulnerable to continue
May sound non-ferrous metals market at home and abroad.
This fall in prices of nonferrous metals direct was triggered Greece deterioration of the political situation after the election, coupled with France Francois hollande was elected the presidential election meant that France might stress the EU to change the current policy on European debt assistance, hit non-ferrous metals markets at home and abroad. In fact, countries of the metal market's decline was for a long timeEconomy weak, weaker demand from China and other factors play a role in the results. From the perspective of international markets, was in early United States weak economic recovery, now is Europe's economic problems. May latest Markit eurozone manufacturing purchasing managers ' index (PMI) initial value for 45% has been reduced for a number of months. From the perspective of China's economic development is underpowered, limited policy space, CentralGovernment is in a dilemma. Is the root cause of the metal fell by macroeconomic factors. In Greece prior to the election the metal market's decline had begun in early April. In early April, mainly for copper industrial metals fell below its prior sideways for the last 2 months.
Bad macroeconomic factors influence not only on the metal, also performed on other commodity and stock markets. FromLonger time to read, negative macroeconomic effects have to demand of metals, metal pricing pressure. This can be seen as the world's largest metals consumer market in China. Since the beginning of this year, China's demand for nonferrous metals that have not started, weak performance of the market as a whole. In this season of China non-ferrous metal consumption, insufficient copper processing enterprises in the lower order, openWorkers fall.
Monthly output of copper products in China at the end of last year has reached the level of 1.02 million tons of ~105 million tons, but the monthly output of 980,000 tonnes in February-April of this year, which means that the first few months of copper consumption on average is less than the level at the end of last year. Largely on behalf of the non-ferrous metal industry of copper, weak demand is problems in the metal industry. Causing metal arcCauses of poor macro-economic downturn. From the perspective of domestic, due to overdrafts in 4 trillion invested in the past 2 years, Chinese industry can develop serious narrow space, electricity, electronics, real estate
Diablo 3 power leveling, high speed rail, highway and other major copper industry development slowing down and even atrophy occurs. From the perspective of exports, 593.2 billion dollars in China's exports in the first 4 months of this year, compared with last yearOnly 5.87% in the same period, well below the levels rose 20%~30% the past few years. Weak demand for nonferrous metals make their inventory at a high level. From the London Metal Exchange (LME) stocks, only copper stocks in LME stocks since the beginning of the lower, but this is mainly because China's copper imports increased substantially since last September, most of the copper are transported toChina. LME Aluminum inventories, almost 5 million tons of nickel stocks, more than 100,000 tons of lead and 350,000 tons of stock are at historically high levels, an increase in inventory early 940,000 tons of zinc. Shanghai copper, aluminum stock has been substantially increased since the end of last year
Diablo 3 gold, although falling, inventory 323
TERA Gold,000 tons of aluminum, 157,000 tons of copper inventory levels are not low; zinc stocksMore than 350,000 tons of high level.
Shanghai bonded inventory around 550,000 tonnes of copper, also at a high level.
United States commodity futures trading Commission, the latest reports show that as of May 22, funds in New York have clear positions on copper 10,098 hand, indicates that the most sensitive to commodity prices on the international market funds are not optimistic about the future of copper prices. In short, Greece electionsThe drop in metal prices, but this is the result of weak metals demand, can be predicted is: If the macro does not improve, consumers can't see signs in the late, non-ferrous metals will continue weak, it is difficult to rise. 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