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Copper fell during the LME period, weighed down by signs of weak demand

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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London Metal Exchange (LME) copper futures fell on Monday as signs of weak demand overshadowed positive sentiment in the broader market after reports that US President Donald Trump could soon be discharged from hospital
.

Copper period

Trump's doctors said his health was improving and could be discharged as soon as Monday, though the severity of his condition is unclear
.

At 17:00 London time on October 5 (00:00 Beijing time on October 6), three-month LME copper fell 0.
37% to $6,528.
5 a tonne, falling to a seven-week low of $6,269 a tonne on Friday
.

Commerzbank analysts say metals, and not just metals, depend on Trump's health
.

Copper prices hit $6,877.
50 a tonne on September 21, the highest level since June 2018, after six months of strong gains
.
However, signs of slowing demand in China, the largest consumer, and rising copper inventories mean copper prices could fall.

China's Yangshan copper premium fell to around $50 a tonne, the lowest
since May 2019.

LME spot copper has discounted from the three-month copper spread, with LME warehouse inventories more than doubling last week to about 160,000 tonnes, easing recent supply crunches
.

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