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China's economic data only good moments, copper short-term correction --- Kenneth Li Yuen copper market commen

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lucy liu 
Asked at 2011.06.07 01:04:54
China's economic data only good moments, copper short-term correction --- Kenneth Li Yuen copper market commentary
answer joy Green  Answered at 2011.06.07 01:04:54
China's economic data only good moments, copper short-term correction --- Kenneth Li Yuen copper market commentary today was undoubtedly the most market attention in China in the second quarter economic data, the National Bureau of Statistics data released today show that GDP was 17.28 trillion in the first half yuan, an increase of 11.1% over the same period last year and a 3.7 percentage points. First half of the large-scale industrial added value up 17.6% over the year earlier, accelerating 10.6 percentage points. 11.4187 trillion yuan in fixed assets investment in the first half, an increase of 25%. First half of the real estate investment 1.9747 trillion yuan, an increase of 38.1%. First half of the total retail sales 7.2669 trillion yuan, an increase of 18.2%. First half of the CPI rose 2.6% in June year on year single month increase of 2.9%. Data released from the start, stock and futures market prices across the board, but the afternoon drive began, once again began to decline. The author believes that the data only from the surface, is still very small, but because of economic data in China this year pattern of high to low has been set, but the first and second quarter GDP growth has been the basic objective to ensure that this year, Paul 8 , and less inflation pressure, the market would certainly think that the focus will be on China in the late real estate regulation and eliminate backward production capacity, etc., so the renewed worries. In Europe, the UK Treasury's actual data three times higher than previously recognized, 4 trillion pounds, that are still hidden; but amounted to 440 billion euros of European debt crisis stabilization fund will be put into operation before the end of July, is expected to be to July 23 will be released may be less stress index of European banks to provide support for the bank, but can therefore boost market confidence, is still unknown. Fundamentally, to further increase the supply of copper, copper production in Kazakhstan increased by 7.6% from January to June this year to 172,343 tons; National Bureau of Statistics announced in June this year refined production 42.2 million tons, up by 26.3%; Chile yesterday, one day, although aspects of 4 plagued by earthquakes, but the northern part of the main copper facilities have not been affected. So the supply side is still relatively abundant. Domestic raw materials still reluctant sellers, but the off-season due to hot weather and consumption, and weak copper prices, the market is not strong willingness to accept the goods. Should be short-term price correction, such as below 53,000 may be ordered, 53,300 small batches to start the bottom of the procurement data in China to reduce inflationary pressures, better early growth, but the market from high to low concerns and national policies, Shanghai copper close down 0.2%, occasional wait and see procurement opportunities waiting for comments represent the personal views above, without any profit guaranteei Yuen Statement: The above views are for reference only; accordingly operate your own risk.
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