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London copper afternoon commentary: during the Spring Festival, international oil prices continued to rise, and London copper closed up nearly 4%; The good non-farm payrolls data has raised concerns about the Fed's interest rate hike, copper prices have been limited, and Shanghai copper has sorted out at a high level on the first day of the market, and copper is expected to rise
slightly.
During the Spring Festival, international oil prices continued to rise, refreshing the high, indicating that supply was scarce, London copper accumulated to close up nearly 4%, the next week London copper bottomed out, the latest closing quotation of 9875 US dollars / ton, closed up 52 US dollars, an increase of 0.
53%, the trading volume of 10967 lots increased by 1376 lots, and the position volume 249171 increased by 111641 lots
.
On Friday night, Shanghai copper did not conduct night trading, and there was no update
of Shanghai copper data.
The London Metal Exchange (LME) reported its latest stock of London copper at 82,225 metric tons on February 4, down 175 metric tons, or 0.
21%,
from the previous trading day.