Copper and aluminum rose hard to say turbulent end

Copper and aluminum in the LME market rebounded last night. The London copper market closed at $8090, up by $260 from the previous trading day. London Aluminum closed at $2,755, up $5 from the previous trading day.

Yesterday, Shanghai copper and aluminum rebounded strongly. Shanghai copper main contract closed at 73,990 yuan in August, up 2400 yuan; Shanghai aluminum August contract closed at 21,970 yuan, up 370 yuan. The market sentiment was becoming warmer. Copper and aluminum were actively traded. Copper and aluminum transactions reached 68,000 and 278,000 contracts, and the positions increased by 5,000 lots and 10,000 lots.

There are no major changes in the fundamentals. According to a report released by the US Department of Commerce on the 25th, the growth rate of the US economy in the previous quarter was calculated at an annual rate of 5.3%, which is higher than the original estimate of 4.8%, which is even greater than last year’s fourth. The 1.7% in the quarter was the fastest quarterly increase since the third quarter of 2003. The release of this data has boosted investors’ expectations of the US economic growth outlook and has had a positive impact on the stock market and other commodity markets.

In addition, last night, the United States announced a letter from Bernanke to the Senate member. Bernanke stated in the letter that the Fed will not ignore the price fluctuations in the stock and real estate markets when formulating interest rate policies. This is the Senator’s response to Bernanke on the April 27 hearing. Bernanke’s response to the letter. The date of this letter is Wednesday, and the official announcement is on Thursday.

Shanghai copper and aluminum stocks all decreased this week, and aluminum stocks fell by more than 8,000 tons. The market sentiment is also warming, but the turbulent period of the base metals may not be over yet.

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