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Chinese entrance decreases cause cupreous price heart next moving
From;    Author:Stand originally

Last weekend, worker of copper mine of subordinate of Codelco of company of state-owned copper industry and those representing capital reach Chile wage agreement, narrow cut lasts since be a week dish full cupreous value offerred bright some to make clear signal. It is to supply crisis hopeful to solve on one hand; It is Chinese entrance on the other hand somewhat cut, of pattern of insecurity of supply and demand alleviate brought about price of LME period copper to be in last weekend glide, and price of COMEX period copper is more what drop to a week to come accordingly is new low.

Strike crisis defers

This strike crisis basically happens in Codelco to be located in the Radomiro Tomic copper mine of Chile north. Last week 5, because those representing capital cannot accept collier raises and the requirement that raise welfare, labour union menace will close two copper mine of local. The occurrence of strike crisis, your market supplies an area for a time nervous. Till last weekend, the labour union of Radomiro Tomic copper mine is in charge of Arturo Cruz to release statement to say, the worker accepted the solution that those representing capital offers finally, include to rise salary 3.7 % . This makes strike crisis got alleviating temporarily.

What cupreous price of direction lost to offer a share since supplying state of nervous occurrence assuasive to be a week is how-to. COMEX period copper closing quotation of agreement Zhou Wu dropped in September 1.9 cent, newspaper at 3.3835 dollars / pound, this was on June 13 the price of lowermost closing quotation since. LME period copper contract received a reply in trading inside Zhou Wu field in March at 7435 dollars / ton, drop 10 dollars.

What need an attention nevertheless is, potential strike menace still exists. It is reported, the whole world Southern Copper Corp of supplier of the 5th big copper. Considering going on strike in Peruvian worker. In addition, labour union of Chile Collahuasi copper mine also because go 4 years of cupreous price rise and the pay salary with higher demand.

Chinese entrance decreases

Nevertheless the analyst thinks, although still have potential strike menace, but China consumes a country as the biggest copper on the world, it is in to “ appetite ” of copper decrescent, this perhaps can have more important guiding to cupreous price action.

The 5 data that publish show custom total sign last week, fine copper imported China to increase 148.3 % compared to the same period in May, achieve 116749 tons, but relatively 186212 tons of April reduced 37 % however.

Finance of graceful family name (Man Financial Ltd. ) analyst Edward Meir says, this one trend appears adumbrative cupreous price will go soft.

Generally speaking, chinese copper consumption can chase advance gradually to enter a climax later in the Spring Festival, because most air conditioning produces an enterprise to be able to be in,restore to produce right now can in order to satisfy requirement of summertime air conditioning, and enter 7, between August, cupreous spending can go soft stage by stage. Actually, period copper price takes LME3 month situation it seems that also confirm consumptive state of China, period price started a 8800 dollars in May last year / ton the history is new tall hind go soft stage by stage namely, come at climbing once more on May 3 this year 8300 dollars / ton drop once more after above.
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