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London copper afternoon commentary: U.
S.
stocks recorded the worst performance in the first half of the year, and London copper closed down 2.
05% overnight; Fears of a global recession linger, expectations of a decline in overseas demand and a renewed increase in inventories are expected to see copper fall
today.
The U.
S.
stock market plunged 21% in the first half of the year, ending a dismal June and second quarter, while U.
S.
stocks recorded their worst first-half performance in more than half a century, and copper fluctuated overnight, with the latest closing quotation of $8238 / ton, closing down $172, or 2.
05%, with a volume of 13,953 lots increasing by 1,511 lots and a decrease of 3,160 lots in 231728 volume
.
In the evening, Shanghai copper fluctuated weakly, and the latest closing price of the main monthly 2208 contract was 63070 yuan / ton, down 1130 yuan, or 1.
76%.
The London Metal Exchange (LME) reported its latest stocks of London copper on June 30 at 124275 metric tons, up 450 metric tons, or 0.
36%,
from the previous session.
