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August 5 London Copper Afternoon Review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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London copper afternoon commentary: the weakening of the dollar prompted bears to cover back, and London copper closed up 0.
43% overnight; Copper production from overseas has declined, domestic investment in infrastructure projects has continued, and falling copper inventories in Shanghai have also supported prices, and copper is expected to rise
today.

London copper

The weakening of the dollar prompted short covering, helping to boost commodity prices and demand, and the copper shock recovered overnight, with the latest closing quotation of $7743 / ton, closing up $33, or 0.
43%, with a volume of 15,235 lots and an increase of 894 lots and a 559 increase in 233533 positions
.
In the evening, Shanghai copper bottomed out, the shock narrowed, the latest closing price of the main month 2209 contract was 59490 yuan / ton, up 70 yuan, or 0.
12%.

The London Metal Exchange (LME) reported 129575 metric tons of copper on August 4, down 675 metric tons, or 0.
52%,
from the previous session.

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