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Overnight, London copper opened at 6808 US dollars / ton, showing a volatile upward trend at the beginning of the session, and fell slightly after touching a high of 6844 US dollars / ton at
noon.
After entering the European time, it climbed again, hindered by 6848.
5 US dollars / ton
.
Subsequently, London copper went all the way down, and after testing a low of 6780.
5 US dollars / ton, it steadily recovered
.
The rally continued at the end of the day, closing at $6845/ton, up $35/ton
.
The trade volume was 11,000 lots, and the position decreased by 136 lots to 319,000 lots
.
In terms of news, the United States started 1.
287 million new housing in April, less than the expected 1.
31 million households, the dollar soared back down overnight, in addition, Liu He led a Chinese delegation to visit the United States, the media said that hawkish White House trade adviser Navarro was excluded from Sino-US consultations, the market's concerns about Sino-US friction cooled, and base metals showed volatility
.
Overall, at the end of 2017, the market was generally optimistic about copper prices, copper prices rose to a high of 56,000, but since the beginning of 2018, the market found that expectations were biased, the European economic recovery was less than expected, the dollar was also relatively strong, and the expectation of a strike was not fulfilled, so copper prices fell all the way, has fallen to about 51,000, a decline of nearly 10%, the current copper price is in a relatively pessimistic period, causing copper prices to fall further negative factors
。