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July 16 London Copper Afternoon Review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Global central banks still implemented loose monetary policy, and London copper closed up $89 overnight; Domestic consumption resilience remains, but copper prices are expected to rise
today due to the recent tightening of scrap copper supply and the decline in Shanghai copper warehouse receipt inventories.

London copper

Federal Reserve Chairman Powell told Congress that there is no need to hurriedly turn to monetary policy tightening, the current global central bank is still implementing loose monetary policy, overnight London copper volatility is strong, the latest closing quotation of 9424 US dollars / ton, closed up 89 US dollars, up 0.
96%, the volume of 14828 lots increased by 3769 lots, the position volume 310173 lots decreased by 1002 lots
.

In terms of inventories, the London Metal Exchange (LME) reported 222625 metric tons of London copper on July 15, an increase of 825 metric tons, or 0.
37%,
from the previous trading day.

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