News summary
Recently, China's real estate policy has been positive and the Federal Reserve has been hawkish. The European and American economies are showing a weak recovery trend and the main line of macroeconomic policy easing has not changed. The supply in the non-ferrous market is tight, the demand side is stable, and prices fluctuate or stimulate consumption. The key to the change in Shanghai copper positions is that nonferrous metals continue to be strong. Stainless steel and nickel led gains, while SHFE lead and tin fell slightly.
Newsletter text
[Highlights of secondary market investors 'attentioncryptoinvideogames: Domestic policy stimulus and economic recovery in Europe and the United States] Recently, China's real estate market has been stimulated frequently, and market policies have maintained a positive attitude. At the same time, the hawkish trend recorded by the Federal Reserve's May meeting contrasts with the weaker U.S. housing sales data, while the initial value of the European and American manufacturing purchasing managers 'index (PMI) in May showed a month-on-month growth, meaning that the European and American economies are still slowly recovering.
From the dual perspectives of macro policy and economic recovery, the main line of market speculation has not changed fundamentally.
At the supply and demand level, the supply of raw materials is still tight, and the extreme crowding that occurred in the Comex copper market has eased.
For the demand side, although the rapid rise in non-ferrous metal prices at the beginning of the week has suppressed primary consumption, with the stability of terminal consumption expectations, the later decline in metal prices is expected to promote consumption.
Medium-to short-term forecasts show that due to China's loose policies and continued supply-side disturbances, the non-ferrous metals market is expected to remain strong, and investors should continue to pay attention to changes in Shanghai copper positions.
In terms of price changes, stainless steel and nickel on the Shanghai Futures Exchange (SHFE) were among the top gainers, reaching 4.4% respectivelycryptoinvideogames.80% and 3cryptoinvideogames.27%cryptoinvideogames; nickel and lead on the London Metal Exchange (LME) also performed well, rising 4.09% and 2.92% respectively. Relatively speaking, SHFE lead and tin fell slightly, recording declines of-1.59% and-1.18% respectively.