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Overnight, London copper fell sharply, all the way down during the session, low to 6106 US dollars / ton, closed at 6124 US dollars / ton, down 3.
13%, and the transaction increased by 3785 to 20252
.
On the news front, Trump threatened to raise tariffs on $200 billion of goods from 10% to 25%, and the trade war heated up again, and London copper fell 3.
13%.
The trade war still suppresses short-term market sentiment greatly
.
In the short term, the contradiction between supply and demand is not prominent, and the demand is off-season, but the supply has not been significantly released
.
However, the hype about the mine strike incident will form some support
for the plate.
It is expected that copper prices will still maintain a stable and volatile trend in the short term, and the operation will be mainly
wait-and-see.
Overall, under the pressure of the escalation of Sino-US trade disputes and the rise of the dollar, non-ferrous metals have suffered setbacks across the board, in addition, the strong hawkish attitude of the Fed meeting is obvious, the overall strong course of the US dollar in the second half of the year has not changed, and the probability of four interest rate hikes, pressure on base metals, and the trend of copper prices in the later period is still under pressure
.
