HB FRANKFURT. When oil investors were impressed by declining Chinese imports only briefly. China has imported in October, about 30 percent less crude oil than it was in September, so it was the lowest level since a half years. In response to the data, the price fell temporarily up to $ 86.17. "It is too early to conclude on the start of a slowdown in oil demand in China," noted analysts at Commerzbank. "In contrast, speaks in particular, that the state refiner Sinopec crude oil processing in November has increased to record levels." As a result, it should come to a marked reduction of inventories, should consider their reinstatement in the coming months on higher oil imports.
The focus of investors shifted quickly back to the USA. There, the oil stocks have had in the past week decreased by 7.4 million barrels a surprise. Reuters poll of analysts but grew by 1.4 million barrels expected.
The barrel of the U.S. WTI cost $ 87 last, a 28 cents more than the previous day’s late business. The North Sea Brent crude cost $ 88.50 per barrel, up 17 cents more than the previous day’s late business.
pay for the ounce of gold investors had to back the 1400 dollars and about as much as in the previous day’s late business. The price was well supported by the high demand, dealers said. China, the world’s largest gold producer wants to deregulate its gold market. Experts say this could lead to a significantly higher demand and, consequently, increasing gold imports. In just a few years, China could replace the now world’s largest consumer India.
The copper price has meanwhile fallen. The barrel of the employed mainly in construction industry, metal prices were down by 110 to $ 8,746. Dealers noted that China has adopted the economic engine in October significantly less copper and copper products than in the previous quarter. "The decline is related to a high on the international price and the apparent abundant domestic availability of copper caused," it said in a comment at Commerzbank. Reuters analyst Wang Tao pointed out that chart from a technical perspective in the next four weeks, a price drop to $ 7915 seems possible.
Even in agricultural raw materials, it went downhill. Dealer founded the declining prices for wheat, canola or corn with profit taking after the last major price increases.