Monday, February 7, 2011

International oil prices fell more than five consecutive trading days last week, down 8%.

<P> On Friday, the U.S. economic data continued to bearish commodity markets, oil prices fell for five consecutive trading days, closing at 72.14 U.S. dollars / barrel. .While the weaker dollar to promote the non-ferrous metals rebounded slightly, but fell sharply earlier this week, the weekly is still the three basic metals fell, including copper, zinc and decline in more than 5%. .</ P> <P> the trend for this week, analysts are more cautious. .Tianqi futures analyst Hanjin Zhu believes that copper prices last week, the callback rate is not large, short-term oscillations are still the main; zinc, aluminum, copper trend to follow the trend, in which concern is the Shanghai zinc, the recent significant expansion of its volume, .rebound may have more space, but the whole non-ferrous metals will remain oscillation. .</ P> <P> but the market also is not just bad news, fundamentals, there are many good news, the first non-ferrous metals stocks continued to decline, as LME copper stocks on Friday reduced to 447,300 tons, while .Most of the first half of the data at 50 million tons. .On the other hand, after entering the peak season consumption, crude oil inventories also declined signs. .</ P> <P> Another good news is the market began to rebound in the euro, the euro against the dollar last week hit a new high for 6 weeks. .This led to the recent trend will become difficult to grasp, to crude oil and base metals as the representative of the industrial slowdown may reflect the pressure on the U.S. economy continue to weaken, the dollar may rebound upward correction for the chance to get out of the stock market. .</ P>.

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