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    Home > Chemicals Industry > New Chemical Materials > July 29 London Morning Review

    July 29 London Morning Review

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    Overnight, London copper opened high at 4850 US dollars / ton, during the Asian session, affected by the weakening of the US dollar index after the Federal Reserve kept interest rates unchanged, London copper returned to a low level, the highest to 4890 US dollars / ton, dragged down by the fall in crude oil in the afternoon, fell after testing the 5-day line, and fell below the daily average after regaining the decline; Entering the European session, London copper fluctuated at the 20-day line, weak US data at night caused concerns about the weakening of the dollar, London copper showed a technical repair, broke through the 5-day line and fell under pressure, the high recorded 4916 US dollars / ton, the late high pullback, and finally closed at 4899 US dollars / ton, up 65 US dollars / ton
    from the previous day's closing price.

    London copper

    Inventories: LME copper stocks reported 208725 tonnes as of July 28, down 5,700 tonnes from yesterday, close to the low set on July 5 this year, but higher than the average inventory of 190,000 tonnes during the year; meantime

    London Metal Exchange (LME) copper futures closed higher on Thursday as the dollar weakened after the Federal Reserve left interest rates unchanged on Wednesday and some expected steady demand from major consumer China
    .
    At 16:00 London time on July 28 (00:00 Beijing time on July 29), three-month copper closed up 0.
    96% at $4,896.
    5 a tonne, hitting a two-week low of $
    4,830 on Wednesday.

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