September 11 European p-xylene market closing price fell 18.5 US dollars / ton, the closing price of 762.5-764.5 US dollars / ton FOB Rotterdam

September 11, the United States WTI crude oil futures rose in October, reported 48.07 US dollars / barrel, or 0.59 US dollars. Brent crude futures rose in November, reported $ 53.84 / barrel, or 0.06 US dollars.

LME zinc and other base metals rebounded on Monday as investors rallied after Friday’s sell-off, and China’s strong economic data also supported the market.

But analysts said the base may still face a deep correction, since early June to early September rose since.

Robin Bhar, head of metal research at Societe Generale in France, said the market was still cautious, mainly because it was bargain-hunting to push up the market.

Bhar said the metals are expected to fall 5% -10% from the recent highs in the coming weeks or months.

Saturday released the Chinese data to support the market. Data show that China’s August inflation data are more than expected, CPI rose a seven-month high, one year to maintain positive growth PPI also hit a four-month high.

Three-month zinc rose 2.3 percent to $ 3,102 a tonne, down 3.1 percent on Friday.

NEW YORK (Reuters) – Base metals prices on the London Metal Exchange (LME) rebounded on Monday as investors and consumers took advantage of the chance of falling prices on Friday, with the largest metal consumer, China’s strong economic data, and Help support the market.

London time on September 11 17:00 (Beijing time on September 12 00:00), three-month copper closed up 0.8 percent at $ 6,748 a tonne, down 3 percent on Friday.

Three-month zinc closed up 1.7% at $ 3,083 a tonne, down 3.1% on Friday.

However, analysts warned that the LME metal index since early June to early September rose 21%, the price is still further down the possibility of repair.

JP Morgan analyst Natasha Kaneva said copper prices are not in line with fundamentals and are expected to fall back to $ 5,600 in the fourth quarter.

“I think this is mainly due to the bargain-hunting after the sell-off on Friday, but the market is still tight,” said Robin Bhar, head of metal research at Societe Generale in France.

“The price has risen so much, it seems more than the fundamentals of the situation, there should be a stage of consolidation or correction.

Bhar said he expects prices to fall 5-10% in the next few weeks or months.

China’s inflation data in August showed higher-than-expected inflation data in August, and the consumer price index (CPI) rose another seven-month high, while the producer price index (PPI), which maintained positive growth for a year, also hit a four-month high. In the case of

North Korea did not carry out missile tests on weekends, also made the financial markets relieved.

Among the other base metals, the three-month lead was 0.5% higher at $ 2,277 per tonne.

Three-month nickel rose 1.5 percent to $ 11,750 a tonne, down 4.7 percent on Friday. In the case of

Three-month aluminum rose 1.1% to $ 2,122 a tonne.

Three-month tin closed up 1% at $ 20,750 per tonne.

LONDON (MarketWatch) – China’s copper imports are only stable over the past four months, and prices have not skyrocketed for June, the London Metal Exchange (LME) copper plummeted on Friday, 20% provide basis.

London time on September 8 17:00 (Beijing time on September 9 00:00), LME three-month copper fell 3% to $ 6,693 per ton, its low in the session since August 25 lowest since $ 6,691.

Data show that China’s imports of copper and copper products in August for the fourth consecutive month to maintain stability, rather than as some people expected to grow. China is the world’s largest copper consumer.

According to the data released by the General Administration of Customs on Friday, China’s imports of unwrought copper and copper in August were 390,000 tonnes, unchanged from the chain, and the monthly copper import data since May has been maintained at that level.

Capitaline’s senior commodity economist Caroline Bain said: “Copper fundamentals can not provide price support.” He also pointed out that copper prices recently hit high after investors locked profit.

“If the refinery production is limited by environmental inspections, metal imports may increase in the coming months,” said Daniel Morgan, an analyst at UBS in Sydney. “” This is good for copper. ”

Friday released data show that LME warehouse copper registered warehouse receipts increased slightly, indicating that the overall market supply is abundant.

However, the dollar weakened support for copper prices, after the European Central Bank President Draghi said it may decide in October to begin to reduce the scale of debt.

UBS analyst Morgan said China’s aluminum exports hit the lowest since March, indicating that the mainland supply side of the shrinking. I expect the next few months may be further shrinking exports, because part of the illegal smelting capacity is closed, and from November 15 from the refinery to avoid winter pollution and closed.

Three-month aluminum fell 0.4 percent at $ 2,099 a tonne, the first week in six weeks.

The London Metal Exchange said Thursday it would cut its short- and medium-term arbitrage trading costs from 1 October, hoping to boost trading volume, while other rivals intensified the launch of alternative products.

Three-month nickel fell 4.7% to $ 11,580 a tonne.

Media reported Thursday that in response to the hurricane Irma, Cuba has begun to close nickel production enterprises. Cuba plans to produce 54,500 tonnes of nickel and cobalt sulfide this year.

“Nickel prices have been boosted by Philippine President Rodrigo Duterte’s mining pollution, but refined nickel stocks are still at a very high level despite the reduction in nickel ore supply,” said Bain of Capital Economics.

Three-month lead fell 3.2 percent to $ 2,265 a tonne.

Three-month tin closed down nearly 1% at $ 20,550 per tonne.

Three-month zinc plunged 3.1% to $ 3,031 a tonne.