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Overnight, London copper opened at $6,911 / ton, slowly falling along the daily moving average at the beginning of the session, testing lower than $6,897 / ton
.
After entering European time, the price climbed, touching 6947 US dollars / ton
.
Subsequently, the shock ran in the range of 6900~6940 US dollars / ton, and the pressure of 6950 US dollars / ton was obvious
.
The late-day volatility continued, closing at $6921/ton, up $4.
5/ton
.
12,000 lots were traded, and the position decreased by 361 lots to 315,000 lots
.
The cooling of US inflation expectations has led to a correction in US bond yields, short-term interest rate hike expectations may continue to fall, the upward drive of the US dollar has further weakened, and copper prices have been supported
.
At the same time, the gradual improvement of domestic macro data verifies that the demand outlook is not bad, and the strike disturbance remains, so copper prices may repair
pessimistic expectations.
Driven by the decline in inventory, low buying, superimposed on the US dollar index fell below the 93 mark, overnight London copper rebounded sharply above $6900, but the rise has narrowed, basically recovered the recent decline, scrap copper shortage on copper price support is still there, it is expected that today's London copper or shock recovery
.
