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March 3 London Copper Afternoon Review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper futures on the London Metal Exchange (LME) rose on Wednesday as investors' risk appetite improved
.
As of 17:00 GMT, three-month copper on the LME benchmark was up 0.
9 percent at $
10,147.
5 a tonne.

LME metal prices generally rose
sharply.
It is reported that Russian companies closed their value-preserving positions in the LME, focusing on whether Russian metals could not be delivered at the LME
.
At present, some banks and logistics companies have stopped their business with Russia, which means that Russian metal exports will be significantly affected
in the near future.
In the medium term, sanctions will inevitably lead to significant restrictions on Russian metal exports, aggravating the tight
supply of copper exports.

In the short term, due to the disturbance caused by sanctions, the sharp rise, but the real domestic demand is still weak, does not support a sustained rise, and in the medium term, with the arrival of the peak season, consumption gradually recovers, and the overall volatility range rises
.

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