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Overnight, London copper opened at $5843/ton
.
After the opening, copper prices fluctuated and consolidated near the daily moving average, briefly touched $5870 / ton in the afternoon and then fell to an intraday low of $5824.
5 / ton under the pressure of the upper band of Bollinger Road, the high profit taking rose significantly, in the evening, as Bank of England Governor Carney said that it was necessary to remove some stimulus policies and the Trump health care bill vote was postponed again, the dollar continued to weaken and the lowest fell below 96, London copper was strongly rebounded, breaking through the previous upper rail medium pressure in one fell swoop, recording a high of 5883.
5 US dollars / ton in the evening, It closed at $5,879/ton, up $32.
5/ton, and its position fell 803 lots to 331456 lots
.
In terms of the market, as of June 28, the spot price of London copper was $5,661/ton, a discount of $14.
5/ton over the March contract; London copper stocks were 248,700 tons, down 1,875 tons from the previous day; copper stocks in the previous period were 56,600 tons, an increase of 46 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.
(import ratio was 8.
08), and the import loss was 346 yuan / ton
.
On the news, the dollar continued to weaken on Wednesday, briefly falling below the 96 mark during the session, giving a slight boost
to capital markets.
The base metals market continued its recent strong volatility, mostly closing higher, closing only with Lunzinc and Lunnickel closing slightly lower
.
London copper recent trend is strong, has closed 4 white lines, is poised to break through the upper band, the weakening of the US dollar to provide rebound momentum, is expected to remain high in the day at 5840~5885 US dollars / ton
.
