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Last Friday's night market London copper narrow range, of which 3-month London copper slightly fell 0.
02% to 4808 US dollars / ton, but for now London copper is still stable above M60, intraday focus on whether the line support is effective
.
In the past week, the London copper position reduction oscillation operation (a cumulative decrease of 24,000 lots), indicating that the long and short actively reduced their positions and left the market, and the sentiment of the copper market was very low
.
A stronger dollar erodes the purchasing power of buyers of goods outside the United States, while falling oil prices reduce costs for miners and make them more receptive to lower prices
.
Analysts said a slight rise in the U.
S.
dollar, a pullback in equities and a softening in oil prices after a surge in the past few days weighed
on metal prices.
Base metals on the London Metal Exchange (LME) were mixed on Friday, with copper futures and aluminum futures falling, and trading volume shrinking, weighed
down by a stronger dollar and a pullback in stock markets and oil prices.
Three-month copper closed down 0.
3 percent at $4,798 a tonne at 16:00 London time on Aug.
19 (00:00 Beijing time on Aug.
20
), up 0.
8 percent on Thursday after hitting a one-month low on Monday.
