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July 19 London Copper Afternoon Review

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

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The Fed remained dovish, and London copper closed up $23 the following week; Copper concentrate processing continues to rebound in the short term, the tight supply of copper concentrate has eased, downstream demand is weak, and copper prices are expected to fall
slightly today.

London copper

Inflation in the United States in June continued to exceed expectations, but Federal Reserve Chairman Powell continued to maintain a dovish attitude, and London copper fluctuated strongly the next week, the latest closing quotation of 9447 US dollars / ton, closed up 23 US dollars, or 0.
24%, the volume of 8768 lots decreased by 6060 lots, and the position 311834 increased by 1661 lots
.

In terms of inventories, the London Metal Exchange (LME) reported 224175 tonnes of London copper on July 16, an increase of 1,550 tonnes, or 0.
70%,
from the previous session.

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