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Overnight, the overall plate of London copper opened high and low, opened at 6456 US dollars / ton, the beginning of the session around the daily moving average oscillation, and then pulled up to a high of 6479 US dollars / ton, but failed to stand firm and moved down to around 6450 US dollars / ton, the stalemate between the long and short sides intensified
。 During the European and American hours, copper prices suddenly encountered strong pressure from bears, all the way below the five-day moving average to 6382 US dollars / ton, see the following 10-day moving average after the support copper price quickly rebounded but failed to break through the daily average and finally closed at 6402 US dollars / ton, down 53 US dollars / ton, the transaction decreased 2125 lots to 16951, and the position increased by 2320 hands to 348,000 lots
.
In terms of the market, as of August 10, the spot price of London copper was 6417 US dollars / ton, which was 29.
25 US dollars / ton discount from the March contract; The actual ratio of Shanghai copper spot to London copper spot was 7.
84 (import ratio was 7.
91), and the import loss was 226 yuan / ton; The actual ratio of the Shanghai Copper Lian 3 contract to the London copper March contract was 7.
89 (the import ratio was 7.
91), and the import loss was 175 yuan / ton
.
On the news front, London copper and aluminum futures stayed near more than two-year highs on Thursday as investors worried about simmering tensions between the United States and North Korea, triggering profit-taking
in financial markets.
London Metal Exchange (LME) futures hovered near
a more than two-year high above $2,000 a tonne.
London copper was down 0.
1 percent
at $6,450 a tonne.
London copper closed slightly lower last day as investors took profits
after copper prices hit a high of $6,515 a tonne since December 2014.
