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    Home > Chemicals Industry > New Chemical Materials > February 20 London Copper Afternoon Review

    February 20 London Copper Afternoon Review

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
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    During the European session last night, the center of gravity of copper prices fell to the daily moving average, London copper until the US market before the low of 6235.
    5 US dollars / ton, short-term bottoming after copper prices rebounded, into the US market, the beginning of the performance under pressure daily moving average shock, but then due to the US index fell sharply, copper prices quickly rose to break through the 6300 US dollars / ton mark, the end of the session high 6334 US dollars / ton, closed at 6332 US dollars / ton
    .

    London copper

    On the news, according to Bloomberg, freight companies in Lima and northern Peru began an indefinite shutdown
    on Monday due to rising costs for one of the world's largest copper producers.
    Callao handles about 90 percent of the country's exports, and the extent to which the strike will affect mining shipments is unclear as some companies use trains and conveyor belts to transport minerals to ports
    .

    The Federal Reserve has recently frequently released signals to suspend interest rate hikes, coupled with the recent Sino-US economic and trade negotiations released by the positive, boost market confidence, the US index shows four consecutive negative, positive period copper, today pay attention to the seventh round of Sino-US consultations on both sides of the remarks, will play a certain guiding role in the market, in addition, the current inventory of the three major exchanges is at an absolute low level compared with last year, but also plays a key role in the recent price rise, it is expected that today's prices still have upside
    .

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