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    Home > Chemicals Industry > New Chemical Materials > August 26 London Morning Review

    August 26 London Morning Review

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    Overnight, London copper fell under pressure for the fourth consecutive day, but the decline narrowed sharply, of which 3-month London copper fell slightly by 0.
    04% to 4627 US dollars / ton, and the current London copper effectively runs below the moving average group, and the short-term decline risk remains
    .
    After the copper price fell below 4700 US dollars / ton in the past two days, London copper increased its position slightly, indicating that the long and short divergence increased, and the operation tended to be cautious
    .

    London copper

    Industry information: Chinalco said that the copper concentrate production of the Toromocho copper mine in Peru in 2016 is expected to decrease by 6.
    6%-12.
    1%
    from the previous target of 182,000 tons.
    Stockpiles: LME copper stocks reported 263875 tonnes as of Aug.
    25, up 9,175 tonnes from yesterday, the highest since November 6, 2015 (266,100 tonnes) and well above the year-long average of 193,800 tonnes
    .

    London copper futures fell slightly on Thursday, under pressure from higher
    copper inventories.
    Copper stocks in registered warehouses on the London Metal Exchange (LME) have surged 72%
    since June 1.
    Copper stocks rose by 9,175 tonnes to 263,875 tonnes
    , inventory data released on Thursday.
    At 16:00 London time on August 25 (00:00 Beijing time on August 26), three-month copper closed down 0.
    1% at $
    4,626 a tonne.

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