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London copper afternoon commentary: waiting for the non-farm data, London copper closed up 0.
15% overnight; The risk of strikes in copper mines in South America has risen, and the scope of power cuts in the southwest has expanded, but the market still lacks obvious supply and demand contradictions, and copper prices are expected to rise and fall limited
.
The U.
S.
job market remains a key window to understand the economic outlook, now the focus turns to wait for the release of non-farm payrolls data, overnight London copper volatility is strong, the latest closing quotation of $9480 / ton, up $14, or 0.
15%, the volume of 9608 lots decreased by 3475 lots, and the position 293936 increased by 375 lots
.
In the evening, Shanghai copper fluctuated downward, and the latest closing price of the main monthly 2109 contract was 69480 yuan / ton, down 80 yuan, or 0.
12%.
In terms of inventories, the London Metal Exchange (LME) reported 236,100 metric tons of London copper on August 5, down 925 metric tons, or 0.
39%,
from the previous trading day.
