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London copper afternoon commentary: China's central bank cut interest rates more than expected, and London copper closed up $25 overnight; Copper is expected to fall slightly today
, as protests in Peru's mining sector have weakened, the tight supply pattern at the domestic mine end has eased, and copper concentrate stocks are high.
The People's Bank of China cut interest rates more than expected, benefiting the risk sentiment of internal and external markets, and copper fluctuated higher overnight, with the latest closing quotation of 9756 US dollars / ton, closing up 25 US dollars, or 0.
26%, the volume of 7183 lots decreased by 7962 lots, and the position volume 249423 increased by 339 lots
.
In the evening, Shanghai copper ran low, and the latest closing price of the main monthly 2203 contract was 70,080 yuan / ton, down 150 yuan, or 0.
21%.
The London Metal Exchange (LME) reported its latest stock of London copper at 92,850 metric tons on January 17, an increase of 6,550 metric tons, or 7.
59%,
from the previous trading day.
