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During last night's European session, London copper's performance fell slightly, and the center of gravity fell below the daily moving average, testing lower $6506 / ton
.
But then into the US market, copper prices rose again, quickly tested 6540 US dollars / ton, but still high failed to maintain stability, the end of the session copper price fell back to around 6486 US dollars / ton, closing at 6487 US dollars / ton
.
Copper prices pulled back last night, as the IMF once again lowered its global economic growth forecast, and the market favored the safe-haven currency dollar, which boosted the dollar back to 97, putting upward pressure
on copper prices.
At present, London copper has successfully stood on all the recent moving averages, and from the perspective of the plate, copper prices are expected to rise
again.
Watch for China's upcoming March social finance data and industrial data from many European countries, which will provide guidance
for copper prices.
The IMF lowered its global economic growth forecast for 2019 to 3.
3%, a new low since the financial crisis, global economic growth worries again limited the upward trend, overnight London copper held steady at the end of the day, the latest closing quotation of 6487 US dollars / ton, up 1 US dollar, or 0.
02%, the volume of 17969 lots increased by 4066 lots, and the position 286752 increased by 1478 lots
.
