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Continuation of non-ferrous metals recovery in demand in Europe and America gains

    In non-ferrous metals in the performance of financial and commodity markets in the eye-catching, although the consumer end of the off-season is approaching, but the market remains strong as it is colored ,booster cables and has refreshed the high point of the trend.

    Economic recovery, adding power consumption growth.

    The strong performance of non-ferrous metals market this year, the most important reason is that loose money supply prompted a lot of investment demand.battery clip From the current point of view, the two countries will continue to maintain an accommodative monetary policy and the policy role of the first half of show,tow rope at the end of clear signs of global economic recovery.

    The latest data show continued expansion of global manufacturing index,ratchet tie dowm which the United States and China reached 55.7 and 55.4, in Europe for the first time back above 50, 50.7, new orders increased global manufacturing, which makes the consumer non-ferrous metals are driven.

    According to European Metalworkers Federation said there is currently a technical rebound in European demand for metals. U.S. auto sales in October to a seasonally adjusted 1,500 million vehicles, the highest this year, the highest level.

    Fair news show that mechanical and electrical products increased by 20% over the previous transactions, including home appliances are the main transaction, 11.7% percent from last year, consumer electronics exports to become the largest increase, an increase of 62.9%. Hardware and tools, transport, construction and decoration materials, electronic and electrical products increased more than 2 percent of turnover, showing that business has basically been completed to the inventory into the new procurement period.

    The latest IMF forecast global GDP forecast this year from a July increase of 1.4% contraction for the contraction of 1.1%, while GDP in 2010 from growth of 2.5% to 3.1%. Historically, global economic growth that the economy is more than 3% in the extended state, in this context, non-ferrous metals market, the tone will be upward.

    Lock stock and more, the fundamentals are improving.

    Rapid rise in metal prices that suppressed the spot consumption, copper, aluminum, zinc huge inventory to market pressure. LME stocks of zinc copper and aluminum were present in 37 million tons, 4.55 million tons and 42 tons, the Shanghai Futures Exchange copper, aluminum, zinc stocks were also at 10 million tons, 260,000 tons and 14 tons. However, we believe that a large part of stock as collateral for financing, short-term is difficult to release into the spot market. In addition, with the economic recovery, consumer better, the fundamentals are changing.

    Such as China's copper processing fees negotiated in 2010, because 2010 is still insufficient supply of copper concentrate, copper processing fees estimated at $ 45 / ton and 4.5 cents / lb, less than 2009 years of Chinese copper processing fees $ 75 / ton and 7.5 cents / lb. Another example is the first quarter of 2010 liters of water in Asia's trade of aluminum for the quarter will be higher than that in the coming months to maintain tight spot market supply.

    According to recent news, the first quarter of next year to Hong Kong, China and South Korea, Australia, the delivery of three aluminum premium over London Metal Exchange spot more than 130 U.S. dollars / ton, delivered to these three liters of undetermined origin about ingots 120 U.S. dollars / ton, or more liters of water were higher than Japanese buyers paid in the fourth quarter of 2009, the $ 115 premium, while Japanese buyers price is already high in 14 years.

    We believe that the fundamentals of metal or a dynamic point of view, the economic recovery trend is broken, should lead to fundamental improvement in the economic recovery as the keynote.

    In summary, the loose monetary policy and global economic recovery to the non-ferrous metal market, laying the basis for the uplink, the gradual improvement in the fundamentals of the case, non-ferrous metals market upward momentum still exists, it is estimated the metal market will interpret the "no off-season spending light "situation.

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