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Mixed metal copper production in China increased
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October 26 Basic metals were mixed, slightly down aluminum, aluminum and copper continue to rise. Insiders pointed out that the basic metal short to be strong, but supply and demand fundamentals do not support prices rose. Shanghai Futures Exchange, the date of 26 October 1102 copper contract closed at 64,920 yuan / ton, compared with the previous day settlement price rose 0.45%; of zinc 1102 contract closed at 21,175 yuan / ton, compared with the previous day settlement price rose 0.88%; of Aluminum Hop 1101 About to close at 16,650 yuan / ton, compared with the previous day settlement price fell 0.63%. JP Morgan subsidiary Commodity ETF Services in the United States Securities and Exchange Commission up and ready to release a copper exchange traded products, which increases the kinetic energy of copper to provide additional support for the exchange-traded funds will be cited Made the additional investment demand for copper. This is following the early October this year, ETF Securities said it would fund the establishment of base metals since the second fund. This also reflects from the side, the global copper market continues to see the future trend Good. Bureau of Statistics released the latest data show that in September China's copper concentrate, refined copper production continued to rise, a slight decline in copper production chain. China's refined copper output in September was 405,000 tons, the chain increased 2.02%, an increase of 14.1%. 1-9 cumulative production of 3.52 million tons, an increase of 14.1% cumulative; September domestic production of 119,000 tons of copper concentrate, the chain increased 7.20%, an increase of 14.4%. January-September cumulative production of 92.5 million tons, an increase of total 20.8%. September domestic production of 896,000 tons of copper, 2.50% reduction of the chain, up remains unchanged. January-September cumulative production of 7,624,300 tons, an increase of 8.6% total. Customs data showed that China refined copper imports in September to 241,711 tons, representing a reduction of 25,442 tons of imports in August, less than 9.52%, Central, down 14.61%. 1-9 months for the 2,291,331 tons of total imports, total Down by 11.16%; September copper imports were 408,511 domestic tons, compared with 89,641 tons of imports increased in August, the chain increased 2.60%, down 0.80%. 1-9 months total imports amounted to 3.22 million tons, an increase of total 7.60%. From domestic production and import and export data, the domestic refined copper production continued to rise, but imports have dropped sharply, responding to domestic demand that is still not diminished, but because of the impact of import price relations, 8,9 months of imports At a loss against the traders of the import of enthusiasm. Domestic interest rate policy on the negative impact of metal species has been digested, the market interest rate increase is expected to present more of a form, enter the interest rate cycle is unlikely. Therefore, market performance remained strong. More critical is Quantitative easing policy is brewing countries. Central banks have to let its currency depreciate to reduce the debt burden and attract foreign capital inflows. Lead to a variety of capital inflows to the financial markets. In accordance with the current economic situation and the weak to the United States Industry data, the extremely loose monetary policy will be maintained longer, there is further rise in commodity space.