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Overnight, London copper opened at $5,760/ton
.
During the Asian session, a large number of bears covered up copper prices, consolidating around the high of 5785 US dollars / ton, recording a high of 5793.
5 US dollars / ton during the session, the high inspired the long position to close, London copper gradually pulled back and fell below the daily moving average, the European session continued to dip, fell below the 10-day moving average diving low of 5668 US dollars / ton, short profit outflow out of London copper bottomed out, returned to the daily average near the shock stabilized, closed at 5740 US dollars / ton, down 19 US dollars / ton
.
Industry news: Freeport's McMullen Copper and Gold Indonesia branch is expected to pay higher taxes after obtaining new mining licenses, as part of Indonesia's
new mining rules, according to an Indonesian finance ministry official.
Stocks: As of January 19, LME copper stocks were reported at 274,100 tonnes, down 1,950 tonnes per day, and are now at a new low since December 14 last year, but still well above the 2016 average annual inventory of 230,000 tonnes, and the year's high was 379175 tonnes
.
London Metal Exchange (LME) copper futures rose slightly on Friday, after a modest decline
overnight.
Investors remain cautious and await a series of Chinese data
.
LME three-month copper rose 0.
3 percent to $
5,754.
50 a tonne.
After falling nearly 2 percent on Tuesday, its biggest drop in a month, copper futures could see its first weekly decline
in four weeks.
