June 24 London Copper Afternoon Review

On Friday, the overall internal and external trading showed an inverted V-shaped trend of rushing high and falling, and the deterioration and escalation of Middle East relations coupled with the still weak US data made the market risk aversion strong, and copper prices were weak
。 At present, the US economic data is still weak, so that the prospect of interest rate cuts continues to increase, the US index still has room to fall, while the deterioration of US-Iran relations has further increased oil prices, the two superimposed so that copper prices have a small rise in support, but the market is worried about the negotiations at the G20 meeting, and although the European economic data has rebounded, the overall economy is still slowing down, unless Sino-US trade makes substantial progress, only the effect of the dollar and crude oil on copper prices is still limited, and the current Shanghai copper has a tendency to fall below the Bollinger middle band.
The KDJ indicator opened downward, and the technology lacked support
in the face of copper price upswing.

Chile's mining minister recently called on Codelco's Chuquicamata copper miners to accept the latest contract proposal and end the week-long strike; Market sentiment before the G20 summit is cautious, and the new round of negotiations around the Sino-US trade agreement at the meeting may not make good progress, and it is expected that today's Shanghai copper consolidation will be the mainstay, and spot copper prices may rise or fall limited
.