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Overnight, London copper opened at $5901/ton
.
Asian session long and short scramble, London copper around the daily average around 5890 US dollars / ton repeated consolidation test, in the afternoon in the black series of rally, pierced the 40-day moving average upward, European session due to the chairman of the German banking association said that he hopes that the ECB bond purchase program will be reduced by the end of this year, hope to end the negative interest rate next year, the euro fell sharply, the dollar straight line to 100.
75, copper prices fell back to around 5880 US dollars / ton after rebounding above the daily moving average, the evening high touched 5932 US dollars / ton, Then, as the domestic black collar fell and drove the diving of commodities, the high of London copper fell to a low of 5848 US dollars / ton, closing at 5878 US dollars / ton, down 46.
5 US dollars / ton
.
London Metal Exchange (LME) copper futures closed lower on Thursday as investors remained cautious ahead of the first meeting between U.
S.
President Donald Trump and U.
S.
President Xi Jinping
.
At 16:00 London time on April 6 (00:00 Beijing time on April 7), three-month copper closed down 0.
6% at $
5,858 a tonne.
Copper futures posted its biggest one-day gain in nearly two months on Wednesday, climbing 2 percent as Chinese buyers returned to the market after the
holiday.
Societe Generale analysts said Trump and Xi Jinping will meet, and the biggest concern is the tense trade relationship between the two countries, as China is the world's
largest copper consumer.
Copper investors are bound to be cautious
.
The United States is committed to reducing China's $347 billion trade surplus
by strengthening trade law enforcement and imposing antidumping and countervailing duties.
However, the Fed hinted that it could start shrinking its massive balance sheet this year, curbing interest in cyclical assets on Thursday
.
According to the minutes of the Fed's last monetary policy meeting, released on Wednesday, most Fed policymakers believe that as long as economic data remains strong, steps should be taken later this year to begin reducing its $4.
5 trillion balance sheet
.
Freeport McMullen Copper-Gold Mining executives said Wednesday that the company was awaiting the final details of a temporary export permit from Indonesian authorities that could lift a 12-week ban on which the company has lost nearly $1 billion in revenue
.
Global copper industry executives said at a conference in Chile this week that the copper industry is expected to recover from crisis mode after falling production due to a price crash, but they expect an initial slower
pace of recovery.
Overnight London copper closed negative correction of the previous day's gains, the strength of the dollar under the suppression of London copper, intraday attention to the news that Xi Special meeting may convey, market sentiment is cautious, it is expected that London copper conservative operation at 5840 ~ 5880 US dollars / ton
.
