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    Home > Chemicals Industry > New Chemical Materials > July 6 London Copper Morning Review

    July 6 London Copper Morning Review

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    Commodity futures led by crude oil yesterday are now somewhat retraced
    .
    U.
    S.
    crude oil mainly fell more than 3%, London copper opened at 5888.
    5 US dollars / ton, the Asian session still maintained the daily moving average running, the center of gravity is at 5895 US dollars / ton line, in the afternoon London copper decline began to show, into the European and American session, LME copper stocks increased by more than 40,000 tons, London copper two waves of diving broke the 10-day moving average, the low recorded 5815 US dollars / ton
    .
    In the evening, the center of gravity recovered some of the losses to stabilize near $5835/ton, closing at $5850/ton, down $37.
    5/ton
    .

    London copper

    In terms of the market, as of July 5, the spot price of London copper was 5661 US dollars / ton, which was 24.
    75 US dollars / ton higher than the March contract; London copper stocks were 315,900 tons, an increase of 40,325 tons from the previous day; copper stocks in the previous period were 56,400 tons, down 152 tons from the previous day; measured by the closing price of Shanghai copper, the actual ratio of Shanghai copper 3 contract to London copper March contract was 8.
    01 (import ratio was 8.
    06), and the import loss was 117 yuan / ton
    .

    Lun copper three consecutive negative pullback
    .
    The minutes of the Fed meeting show that officials are still divided on the start time of the balance sheet reduction, and the US index including many markets has performed flat, considering that the balance sheet reduction has been digested by the market, and it is difficult for the disk to move
    .
    The surge in inventories frequently dragged down Lun Copper, but the threat of a strike at the Antofagasta copper mine remained, and it was difficult for London Copper to constitute a trend decline
    .
    Intraday repairs are expected near the 10-day moving average, running at $5830-5870/mt
    .

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