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Zhou Commentary: Most Varieties Receive Red &Nbsp; Shanghai Glue Is Leading, Shanghai Gold Is Weakening.

2010/7/31 16:37:00 42

Driven by strong external market and A shares continued to rise, the majority of domestic commodities market this week received red, and Shanghai gum led.

Basic metals rose across the board and gold fell sharply.

Because of the recent strong rebound in the world's major stock markets and the fall in the US dollar, international metal prices have continued to grow, and Lun copper has hit a new high since May.

Affected by this, Shanghai copper 1011 rose 1.57% this week, Shanghai aluminum 1010 rose 0.46%, Shanghai zinc 1009 liters 1.97%.

Analysts believe that the recent copper prices are still being repaired, but the rising copper prices in the off-season are hardly acceptable to consumers. It is expected that copper prices will remain at a high level in the short term.

Because of the gradual improvement of the European economic situation recently,

market

Confidence has also recovered rapidly, and international gold prices continued to fall this week.

Shanghai gold fell 2.11% in 1012 weeks, and it closed 255.94 yuan on Friday, breaking 260 yuan mark.

The world's largest gold ETF-SPDR

Gold holdings

After reaching a record high of 1320.436 tons in June 29th, it has been reducing its position since July. As of July 28th, SPDR has substantially reduced its tonnes of 38.157 tons, indicating that gold's attractiveness to investors has subsided.

In addition, steel continued to rebound, this week Shanghai screw 1101 liters 1.47%, Shanghai line 1010 up 1.38%.

Energy chemical industry

Futures all over the world led by Shanghai Rubber

Energy and chemical futures all red this week, Shanghai gum led to a 3.23% increase, even plastics rose 1.23%, Shanghai fuel rose 1.12%, even PVC and Zheng PTA also rose slightly.

Shanghai rubber has hit a new high this week. Galaxy futures believes that due to tight supply in Thailand and low inventory in Japan and China, there is a need to replenishment. In the short term, the price of rubber is strong.

However, the domestic car market has been declining for three consecutive months, and the accumulation of tire factory stock and the overall forecast of natural rubber in the year of 2010 will be slightly larger than the demand, which will limit the price of rubber to a large extent.

Shanghai fuel industry, some analysts believe that overnight crude oil prices rise or boost fuel oil in Shanghai further higher, later Shanghai fuel or will be strong trend.

Most of the futures of agricultural products rose. Zheng sugar was the best.

In terms of agricultural products, Zheng sugar rose 2.93% this week, the best performance. Heavy rain in many parts of the country has made the price of agricultural products generally bullish.

Soybean meal rose 2.77% this week, and analysts believe soybean meal is expected to remain high in the short term, boosted by the increase in soybean and demand recovery.

But the supply pattern is expected to improve, and the market will be limited.

Palm oil rose 1.69% this week.

Except for rice and hard wheat, all other varieties increased slightly.