SMM May 29 - recent copper? Shanghai non-ferrous nets (SMM) on the investigation of 20 domestic wire and cable companies, according to the results of bearish atmosphere dominate the market.
85% of the cable companies bearish copper afternoon, think recent copper prices continue downward, or below ground to 52000 yuan/ton. The latest China and Europe may PMI data are located under the break-even mark, show central manufacturing continued to shrink, means that is widely used in manufacturing of copper demand. And the risk of a Greek exit the market investment confidence hit, will continue to promote the money to buy the dollar hedge, promote copper prices fell.
Look flat afternoon enterprises accounted for 15%, which some companies think copper prices have fallen to psychological price of the market, many downstream has begun to market inventory, for copper at the bottom of the form must be supported. But poor in the consumer and the end of the international economic environment turbulence, copper is weak.