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Overnight, London copper opened at 6983.
5 US dollars / ton, slowly falling at the beginning of the session, testing lower 6952.
5 US dollars / ton
.
The midday decline eased, oscillating below the daily moving average along the $6,962/mt line
.
In the afternoon, benefiting from the weakening of the US dollar, the overall upward trend was volatile, and the rally was suspended after touching 7024.
5 US dollars / ton, and there was a slight decline
.
In the evening, London copper rose again, climbing all the way to touch 7115 US dollars / ton before the rally slowed
.
Late-day volatility sorted out, closing at $7117 / ton, up $130.
5 / ton
.
In terms of news, the world's largest copper mine Escondida copper mine in Chile began salary negotiations, from the current tough attitude of the union, labor negotiations have the possibility of rupture, thus increasing supply uncertainty, while downstream demand is booming, so copper prices can still be expected
.
In the future, copper price fluctuations or mainly from some macro and fundamental uncertainties, the uncertainty of copper scrap in the second half of the year will have an impact on expectations, financial and geopolitical risks will intensify volatility, copper prices are likely to maintain a high and wide range oscillation
.
