|This week (July 4-8), the EU has announced the interest rates, U.S. economic data was mixed, long and short intertwine, the New York oil prices finished lower, dropping by more than 1% weekly gain. The pattern of the domestic market is broad based, including plastics, rubber and other varieties rose more than 4%.
6 Bank of China announced that from July 7, 2011 from financial institutions raised the benchmark deposit and lending rates by 0.25 percentage points. Beijing Research Institute of the mid-analyst Wang Jun believe that this increase is for more than 6 percent in June CPI data, inflation in June is expected to reach high for the year, the increase in deposit and lending rates in line with market expectations.
In addition, the central bank in the second quarter monetary policy meeting with "stability, relevance and flexibility," instead of a quarter, "relevance, flexibility and effectiveness", interpreted by the market for domestic monetary policy fine-tuning occurs. Subsequent performance of commodity markets as market participants are also expected, the pressure to raise interest rates on the market is limited, short-term market performance advantage of this opportunity, prosperity, domestic and international commodity markets rally emerged.
From the international crude oil market, U.S. economic data affecting the market nervous. 5, the U.S. Commerce Department data showed U.S. factory in May, new orders increased by 0.8%, far better than the 0.9 percent decrease in April, boosting crude oil market investors in the U.S. economic outlook and optimism about the outlook demand for crude oil, New York Oil rose more than 2%. 7, first published in jobless claims fell and retail sales data was better than expected once again to boost oil prices, international oil prices did not bother the ECB to raise interest rates negative impact, but the expansion rate of rebound.
8 U.S. employment data show that in June the United States hit a new nine-month low employment, the unemployment rate for the highest level this year, shows that the U.S. job market continues to deteriorate, resulting in falling oil prices, but the view is still showing up all week potential. As of the end plate 8, New York light sweet crude for August delivery futures prices closed at $ 96.20 a barrel, the week up 1.33%. London market by the emergence of North Sea oil production news, 8 of Brent oil price decline is limited, to close at $ 118.33 a barrel, the week up 5.87%, with further expansion of the New York oil prices spreads to 22 U.S. dollars.
In international oil prices, driven by domestic fuel oil futures contracts are recorded 0.73% of the weekly gain, but in the current market participation is extremely low in the case, Shanghai fuel oil will continue to narrow the main shock, a temporary market will not have a clear direction. Plastic, PTA, and PVC, the higher correlation with crude oil futures are doing well this week, the main contract rose 4.55%, respectively, 4.04%, 1.19%.
Continues the rising trend of non-ferrous metals, continue to rebound. The main copper contract rose by 2.85% led by the colored blocks, some analysts believe that the recent Indonesia and Chile copper strike continued, increased market concerns about tight supply. China is expected to make up the second half of the market there is demand for the library, Morgan Stanley and Goldman Sachs have issued bullish comments. In addition, Shanghai aluminum, lead, zinc rose 0.75%, 0.84%, 2.05%.
Soft commodities, sugar futures rose 4.42 percent, approaching a record high in intraday trading on Friday. 6, No. 6 national launch batch of state sugar reserves, reserve prices for throwing again rose sharply. Some analysts believe that the domestic sugar market supply and demand remains tight, the consumer before the end of the season, sugar prices rose and easy going down, the price of sugar will remain at high levels, the new sugar market before the next crop season, is expected to impact the beginning of the high points.
Zheng cotton futures plunged more than 5% last week, the week up 2.45%. Currently there is no positive support cotton fundamentals, weak sales of domestic stock, international stock price fell, some analysts believe that short-term volatility trends do not change, the weather may stimulate cotton prices rebounded. Natural rubber futures recorded a 4.74% weekly gain, led by the domestic futures market, peaked at nearly three-month high. Some analysts believe that the support in the synthetic rubber prices, the outlook will continue to ratchet.
Soybean oil, palm oil, rapeseed oil three main oil contract rose 2.73% this week, 1.73% and 2.03%. Domestic soybean oil spot market transactions is slightly better, again, the Malaysian palm oil production is expected to increase, imports and stocks of domestic growth. On the whole, the current long and short interwoven factors, rising oil waiting for a new impetus.
14 consecutive weekly gain of thermal coal rose last week to stop after a slight decline in the week. 6, published open ports in the Bohai Sea heat the average price of steam coal 5500 kcal close 842 yuan / ton, compared to the previous reporting period decreased by 1 yuan / ton. In addition, rebar futures this week to regain gains, rising 1.74%, but did not stimulate corresponding strong futures coke, coke futures finished lower, rose only 0.48%, the overall is still in the consolidation interval.