Consumption fell from a high copper prices coming off-season - copper, aluminum - chemical industry

National Association of Realtors reported in April signed into house Sell Index in March rose 6.7% to 90.3,3 84.6 months, this is the third consecutive month the index upward. The index in April over the same period in 2008 increased by 3.2%, 87.5. As of May 30 to around U.S. Redbook retail sales down 0.3% on-year drop of 0.1%, the market had expected retail sales fell 0.1% in the current period.

Copper: LME copper closed 5050 U.S. dollars or 25 dollars, inventory reduction of 2,750 tons. Shanghai copper spot price of 40,050 yuan, up 875 yuan. LME yesterday Electronic Set to rise sharply around 5200 U.S. dollars, were experienced selling selling price immediately below 5050 U.S. dollars. Shanghai copper futures also finished lower on the situation presented. The spot market, spot order receiving more hesitation, no transactions Wang. Chinese copper demand consumption began to fall off-season, the cash premium to maintain the situation, the supply seems more relaxed, less inhibited to buy future consumption, fell from a high copper prices, while the recent decline in arbitrage ratio indicates the number of future Chinese imports of copper would be more early reduction, making the apparent decrease consumption. Recent global PMI data all exceeded expectations, showing that Economy Is in a recovery phase. Circulation of the dollar over Europe and Japan, so investors have been selling dollars, affected by higher metal prices. Consumer fundamentals will reduce the next few months, but the short-term dollar decline is sustained, a greater impact on later copper. The short term, copper prices in 5200 U.S. dollars at the top of the technical face greater pressure would be more intense short-term shocks.

Aluminum: LME aluminum closing 1472 U.S. dollars, or one U.S. dollar, stocks increased 5,250 tons. Shanghai aluminum spot price of 13,100 yuan, up 140. As suppliers reluctant sellers, stock aluminum rose, supported futures prices rose slightly. LME aluminum inventories are too large, but the availability of low business and consumer customers access to inventory status makes aluminum support, because not much stock available for sale. GM bankruptcy have made an end market for consumer concerns, while the sustainability of future Chinese consumption rose a greater impact on aluminum prices. Short term shocks bottomed aluminum phase remains.

Zinc: LME zinc close 1580 U.S. dollars, or 30 U.S. dollars, reducing 525 tons stock. Shanghai zinc spot price of 12,950 yuan, up 50. Early domestic imports of zinc is gradually being digested, the market is still relatively abundant supply of zinc, short-term balance of supply and demand situation. But later, after digesting all of the import of zinc, the domestic zinc supply can keep up with the decision of the future balance of supply and demand of zinc can extend short-term zinc price of the smelting business attractive production will be gradually restored. Short-term zinc price remained shock pattern, the main short-term trading.

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