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Overnight, London copper rushed back down, partially cutting intraday gains, of which 3-month London copper rose 1.
03% to 4936 US dollars / ton, the daily closing price hit a high since April 29 this year, continue to effectively run above the moving average group, the upward trend is obvious
.
In terms of positions, on July 12, the position of London copper was 345,000 lots, an increase of 6,244 from the 11th, and this week London copper increased its position on the main line, showing that the bulls took the initiative, and the sentiment of the copper market rose
significantly.
Stocks: LME copper stocks reported 233,050 tonnes as of July 13, down 1,700 tonnes from yesterday, close to the high set on February 3 (235,400 tonnes) and well above the year's average inventory of 187,800 tonnes
.
News: China's imports of unwrought copper and copper fell to 420,000 mt in June, down 2.
3% year-on-year, but cumulative copper imports from January to June still increased 22% year-on-year to 2.
74 million mt
.
LME copper ended higher on Wednesday on strong Chinese import data, a weaker dollar and increased risk appetite among investors
.
At 16:00 London time on July 13 (00:00 Beijing time on July 14), three-month copper closed up 1.
4% at $4,938 a tonne, breaking through $5,000 a ton earlier in the session and rising to $5,032 a tonne, hitting a nearly three-month high
.