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Overnight, London copper opened at $7122 / ton, and ran along the $7125 / ton line at the beginning of the session
.
After the Asian market opened, it followed the trend of Shanghai copper, testing lower $7,093 / ton
.
Subsequently, the oscillation ran in the range of 7095~7110 yuan / ton
.
In the afternoon, it fell to 7092 US dollars / ton, boosted by the decline in the US dollar, London copper quickly climbed upward, until 7158 US dollars / ton gave up some of the gains, and then ran along the 7150 US dollars / ton line
.
In the evening, London copper rose again, falling slightly after reaching $7229/ton
.
The late rally continued, closing at $7235/ton, up $118/ton, or 1.
66%.
In terms of news, after 5 months of adjustment, the copper market returned to a bull market
.
Among them, the LME copper price not only broke above $7,000, but also broke the resistance level of $7,100 since this
year's pullback.
The union at BHP's Escondida copper mine in Chile said on Friday it had begun consulting with management on a proposal that included about $34,000 per worker in a world copper mine where labor negotiations were in the spotlight
.
After the macro risk is gradually released, the upward momentum of the market is recovering, and copper prices are breaking upward
with the support of supply and consumption.
It is estimated that in the short term, copper prices will continue to challenge last year's high of $7312, and if successfully breached, copper prices may still move upwards to $7500 and $
8000.
