论文部分内容阅读
出乎大多数国内外机构2000年年底的预计,铜价承接2000年年中开始的跌势,以振荡下跌的方式打破了人们在去年开始的看涨梦想。与2000年的高点2036美元/吨相比,目前累计下跌幅度已超过20％。全球经济大环境的走软无疑是铜价下跌的重要背景,但近年来长期在基本金属市场做空的投资基金的疯狂抛售更是造成铜价易跌难涨的罪魁祸首。从与铜价相关性较大的道琼斯工业指数来看,无论道指大幅跳水还是辗转回升,铜价似乎全然不顾FED继续降息和一些大规模业内减产的作用,在下跌的弱势中愈演愈烈,大有万劫不复之势。究竟影响铜市场的根本因素是否已经彻底逆转?对今年铜
It is beyond the expectation of most domestic and foreign institutions at the end of 2000 that copper prices will undertake the downward trend begun in mid-2000 and break the bullish dream that people started last year by way of a downward spiral. Compared with the peak of 2036 US dollars / ton in 2000, the current cumulative decline has exceeded 20%. The weakness of the global economic environment is undoubtedly an important backdrop for the decline of copper prices. However, the frenzied selling of long-term investment funds with short positions in the base metals market is the culprit for the price of copper to fall. Judging from the Dow Jones Industrial Index, which is more closely related to the price of copper, regardless of whether the Dow is diving sharply or recovering, the price of copper appears to be totally indifferent to the continued interest rate cut by FED and some large-scale industry output cuts. Potential. Whether the fundamental factors affecting the copper market have completely reversed?