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Overnight London copper oscillation continued to rise, of which 3-month London copper rose 0.
98% to $4984/ton, up 1.
64%
from the intraday low of $4902/ton.
At present, London copper is effectively running above the moving average group, the short-term rebound pattern is maintained well, and the daily closing price hit a new high
since April 29 this year.
In the past week, Lun Copper has been the main player with increasing positions, indicating that bulls have taken the initiative, and the popularity of the copper market has increased
significantly.
In terms of stocks: as of July 19, LME copper stocks reported 226,300 tons, down 3,125 tons from yesterday, hitting a low since July 11 this year, but higher than the average inventory value of 189,000 tons during the year;
LME copper ended higher on Tuesday on hopes of new stimulus measures from Europe and China
.
At 16:00 London time on July 19 (00:00 Beijing time on July 20), three-month copper rose 0.
91% to close at $
4,984 a tonne.
