![<?echo $_SERVER['SERVER_NAME'];?>](/template/twentyseventeen/skin/images/header.jpg)
While waiting for the FED market Wednesday open market meeting for interest rate decisions, the international copper and aluminum market weakened. The fall in chain sales also hit copper and aluminum prices. The International Association of Shopping Centers (ICSC) and UBS issued a joint announcement on Tuesday. The report showed that sales of US chain stores fell compared with the previous week, and rose last week. The price of gasoline fell to the lower level since December last year, and chain store sales still fell compared to the previous week. Data released and crude oil The weak market has affected the operation of copper and aluminum last night, but the market has been detached from the low point in the afternoon.
The author's view on the differential operation of the international copper and aluminum market continues to insist that the interval of copper prices will continue, and that the relatively strong operation of aluminum prices will also continue. In last night's trading, the copper price was once again running to the low of the range. The lack of market participation has exacerbated the operation of copper prices. At the same time, aluminum prices have been significantly stronger than copper prices in the fall. This situation will continue.
Market related news:
The Ormet Group company said that the company will close its Burnside alumina refinery in Louisiana by the end of 2006 because of rapid and significant declines in alumina prices. In a statement released on the evening of the 20th, the company said that the alumina equipment can withstand a 30% to 40% price drop, but last week (as of the 20th) alumina prices have exceeded 600 US dollars since April. The/ton level dropped sharply to $250/ton, which forced the smelter to close. Ormet said that the company has issued a 60-day notice of closure to its employees and that employees will begin to close the smelter. However, if alumina prices rise again, they will soon restart the smelter.
A trade union leader at Codelco Norte Copper Mine, a subsidiary of Chile's state-owned copper company Codelco, said that workers in the mining area are considering proposals from the company for advanced contract negotiations. Raimundo Espinoza, chairman of the Union of Copper Workers Union, said: "Now we are conducting an analysis. It is necessary to analyze the proposal. We need to look at the contents of the proposal." Codelco is the world's largest copper producer, and the company is currently Avoid strikes in the mine area. Annual production of copper cathodes in the mine reached 964,930 tons, and the annual molybdenum output also reached 26,826 tons.
In the recovery of the metal market, the mode of operation has obviously changed. The relative strength of lead, zinc, and nickel is in stark contrast to the self-style closure of copper and aluminum. The leader of copper price has encountered challenges. The long-term copper price as a wind vane is It will be a matter of concern to market participants and follow-up to dragging other metals to follow or drag other metals. However, the price overdraft at the beginning of the year has put a heavy burden on copper prices. Relatively speaking, The aluminum market is also gradually falling out of the shackles of copper prices, and structural imbalances in the market in December and January will be the focus of the current market. The news of Ormet Group shutting down the Burnside alumina refinery in Louisiana should be It will play a role in supporting the recent decline in alumina. The disagreement in the metal market seems to continue. We have continued to rise in lead, zinc and nickel prices and the high price of tin during the fall of copper prices from last night. In terms of digestion, this situation has not changed. At present, copper prices have failed to realize the opportunity to use the rising prices of other commodities to achieve The upper fully tested, the interval runs unchanged. The once-opened trend system reconvered, limiting the development of copper prices. The copper price once again fell below the 60-day moving average and was repressed by the quarterly trading center. The price continued to run in the interval. The aluminum market is obviously due to the rising market. The imbalance in the market position structure has limited the fallback in aluminum prices. However, the upward trend in technology remains intact, and the continuous rise has caused some profit-taking pressure in the market. The contract imbalance appeared in December and January. The tension of this month is not high, and it is normal for the market to make some adjustments. The copper weak aluminum operation pattern will continue.