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December 7 London Copper Afternoon Review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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London copper afternoon commentary: oil prices rose more than 5%, and London copper closed up $160 overnight; The RRR cut by the domestic central bank has driven market risk sentiment, which is positive for short-term copper prices, coupled with the continuous destocking and high premium at home and abroad, copper is expected to rise
slightly today.

London copper

Oil prices rose more than 5%, as concerns about epidemic lockdowns eased, and Saudi Arabia raised oil prices, causing oil prices to soar to $70.
15 at one point, and overnight copper trend was strong, the latest closing quotation of $9577 / ton, up $160, or 1.
70%, the volume of 8908 lots decreased by 1728 lots, and the position 258269 increased by 1124 lots
.
In the evening, Shanghai copper opened high, and the latest closing price of the main monthly 2201 contract was 69560 yuan / ton, up 230 yuan, or 0.
33%.

The London Metal Exchange (LME) reported its latest stock of London copper at 77,875 metric tons on December 6, down 475 metric tons, or 0.
61%,
from the previous trading day.

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