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On Wednesday, New Zealand, India and Thailand and other central banks have cut interest rates, central banks have eased monetary policy, investors have become more positive about the global growth outlook, overnight London copper fluctuated upward, the latest closing quotation of 5746 US dollars / ton, up 42 US dollars, or 0.
74%, the volume of 14099 hands decreased 534 lots, the position of 308730 hands increased 701 lots
.
The recent depreciation of the RMB has hedged the impact of Sino-US trade on China, and has a slight support for copper prices, but in the overall environment, the intensification of trade frictions is still a negative factor, and investors are currently pessimistic about the economic prospects of the euro area, the overall global economy is still weak, and copper prices lack momentum
.
This morning, we focused on domestic social finance and trade data, which are expected to be weaker
.
Chile's national company Codelco copper production fell 12.
1% year-on-year to 769,400 tonnes in the first half of 2019, the National Copper Commission of Chile (Cochilco) said on Wednesday.
Production at BHP's Escondida copper mine, the world's largest copper mine, fell 12% year-on-year to 569,900 tonnes; Anglo American Resources and Glencore's joint venture, the Collahuasi copper mine in northern Chile, produced 254,700 tonnes, down 2.
8%
year-on-year.
The global supply tightness pattern continues, and spot copper prices are expected to rise
slightly today.