Daily Report 160517 2017-05-16
Monday copper market fluctuated upward. Copper price reached 20 days average line then difficult to maintain. LME inventory yesterday decreased 4225 tons to 325000 tons. LME actuals discount narrowed $1 to discount $19.75. Industry side, Salvador of Chile’s National Copper claimed that the heavy rain and snow influenced the copper mine last weekend. Copper mine suspended operation for two days. Overall, global macro economy is relatively gentle, but the tighten capital still stress on copper price. Mid-term keeps short tendency.
Macro Economy
Macro, the latest data released on Monday, April industrial added value significantly lower than expected. Both fixed asset investment and sales growth rate down, real estate sales growth slowed. What’s more, coupled with the previous weak PMI and import and export data, there is analysis that China's recent round of economic rebound has appeared signs of peak.  
                                                                      Dong LV (Investment Certificate NO. TZ008452)