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    Home > Chemicals Industry > New Chemical Materials > August 17 London Copper morning review

    August 17 London Copper morning review

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    London copper oscillation strengthened overnight, of which 3-month London copper rose 0.
    86% to $4813 / ton, for now London copper is still stable above M60, intraday focus on whether the line support is effective
    .
    In the past two days, London copper has sharply reduced its position and risen, indicating that the enthusiasm of bears to reduce positions is stronger, and the willingness of copper prices to fall may weaken.

    London copper

    Industry information: Kazakhstan's copper production in July this year was 32,814 tons, an increase of 0.
    5% year-on-year, and the cumulative output of refined copper from January to July was 232631 tons, an increase of 6.
    5%
    year-on-year.
    Stocks: LME copper stocks were 205375 tonnes as of Aug.
    16, down 1,775 tonnes from yesterday, close to the level of August 4 and still higher than the average of 192,000 tonnes
    for the year.

    London Metal Exchange (LME) copper futures closed higher on Tuesday as signals that U.
    S.
    interest rates were likely to remain unchanged weighed on the dollar to slide, prompting speculators to push metal prices higher, with aluminum hitting a one-month high
    .
    At 16:00 London time on August 16 (00:00 Beijing time on August 17), three-month copper closed up 0.
    9% at $
    4,811 a tonne.

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