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Overnight, London copper as a whole showed a bottoming rebound, opening at 6430 US dollars / ton, a wave of small surge at the beginning of the session after the bulls closed their positions and left, copper prices all the way downward, breaking through the ten-day moving average to a low of 6377.
5 US dollars / ton
.
Copper prices stopped falling and repaired during the European and American sessions, climbing all the way above the daily moving average and then running in a wide range, and the center of gravity remained around
$6400 / ton.
It finally closed at $6,404/ton, down $23/ton, with a decrease of 5,902 to 12,887 lots and a position increase of 1,059 to 350,000 lots
.
In terms of the market, as of August 14, the spot price of London copper was 6354 US dollars / ton, which was 28 US dollars / ton discount to the March contract; The actual ratio of Shanghai copper spot to London copper spot was 7.
82 (import ratio was 7.
9), and the import loss was 275 yuan / ton; The actual ratio of the Shanghai copper 3 contract to the London copper March contract was 7.
86 (the import ratio was 7.
9), and the import loss was 293 yuan / ton
.
On the news front, the dollar rose on Monday as traders pulled out bearish positions
on the dollar built on rising tensions in North Korea and weak inflation data.
The lack of further verbal standoff between U.
S.
President Donald Trump and North Korean leader Kim Jong-un this past weekend prompted investors to re-buy the dollar and sell safe-haven currencies
such as the yen and the Swiss franc.
