The hottest U.S. economic data boosted metal light

US economic data boosted metal light trading, closing higher

overnight, a group of strong US economic data boosted base metal market sentiment. US durable goods orders in August increased slightly by 0.1% compared with the previous month; The sales volume of pre-sale houses increased by 7.9% in August, the largest increase since January this year. Meanwhile, a spokesman for aurubis, Europe's largest copper smelter, said that the premium of cathode copper contract for the European market in 2014 was set at $105 per ton, which was $19 higher than that in 2013, and there was little difference with the premium of European spot copper in dollars. The premium level set by aurubis increases the possibility that Codelco will raise the premium in 2014 to US dollars. In addition, Japanese copper refineries also proposed to increase the long-term single supply premium of Chinese end users by 45% next year, reflecting to a certain extent the strong copper premium, the expected demand growth of the market and the tight supply. A series of news basically supported the copper price. However, LME investors remained cautious, as the U.S. Congress' negotiations on avoiding the cut-off of government funds at the end of this month continued, and the possibility that the U.S. Congress might not reach an agreement to avoid the shutdown of the government worried investors. U.S. stocks fell across the board, falling with the dollar, and S & P fell for five consecutive times, the longest consecutive decline this year. Lun copper rose in shock, but the rebound momentum was slightly weak, hitting a high of $7205/ton between sessions and finally closing at $7186/ton

scope of application there was no major news guidance overnight, and the market continued to speculate about the U.S. debt ceiling. At present, the date for the United States to approach the debt ceiling is near, and the fiscal differences between the Democratic Party and the Republican Party are serious. At present, if the U.S. Congress cannot approve the temporary Appropriation Bill for the new fiscal year in October but before the 1st in the fatigue machine verification process, the non core departments of the federal government will be closed; If the public debt ceiling of $16.7 trillion is not raised before and after October 15, the United States will face the risk of debt default. Although the concern has put pressure on the US dollar index and the stock market, from historical experience, the debt ceiling issue can always be resolved at the last minute, so investors' concerns are limited. Even the US Treasury Secretary said that the market's confidence in the US bipartisan agreement on the debt ceiling may exceed its due level

good performance in data, but limited impact on the market. Us durable goods orders in August increased by 0.1% month on month and are expected to decline by 0.2%; The annual sales of new houses in August in the United States was 421000, better than expected and the previous value; Consumer confidence indexes in Germany and Italy have reached new highs in recent years; The CBI retail sales difference in Britain in September hit the highest level since June 2012, and the euro zone economy continued its recent strength

at present, the domestic side mainly focuses on the Shanghai Free Trade Zone, which will be listed on September 29. On the day of listing, the first batch of about 32 detailed rules will be released, but it does not involve the specific content of financial innovation that the market is highly concerned about. In addition, more than 20 detailed rules will be issued successively before the end of 2013. Even after cleaning and separation of waste plastics at the end of the quarter, the financial tension and the risk aversion before the holiday are dominant. It is less likely that the theme of the free trade zone will lead the domestic stock market out of another surge

in the surrounding markets, the main stock indexes in Europe and the United States basically closed down except Germany; LME base metals all rose