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    Home > Chemicals Industry > New Chemical Materials > May 25 London Morning Review

    May 25 London Morning Review

    • Last Update: 2022-12-10
    • Source: Internet
    • Author: User
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    Overnight, London copper opened at 6895 US dollars / ton, fell slightly at the beginning of the session, and tested below 6877.
    5 US dollars / ton and then
    ran along the 6880 US dollars / ton line.
    It rose slightly in the afternoon, touching a high of $6902 / ton and then retreating
    .
    After entering European time, the US dollar weakened, while LME copper stocks ended the continuous increase in recent days, reducing 2752 tons, boosting copper prices upward and continuing to climb, to 6959 US dollars / ton after a slight decline, after a short consolidation and then rushed up again, hindered at 6999 US dollars / ton
    .
    After a volatile downward trend, the late volatility continued, closing at 6963 US dollars / ton, up 65 US dollars / ton
    .

    London copper

    After the Fed's May period, the dollar index fluctuated back and was profitable
    .
    However, the annualized data of existing home sales in the United States was significantly lower than expected, and the economic performance of sales in Europe was lower than expected, which also suppressed
    nonferrous metals.
    After the Sino-US negotiations, China reduced import tariffs on automobiles, indicating that the results of the negotiations were relatively positive and had certain benefits for the nonferrous market
    .
    According to the data, with the closure of a copper smelter in India, involving 500,000 tons of electrolytic copper, the market was stimulated to
    rise.

    The dollar index fell slightly, the metal generally rose, overnight London copper rebounded slightly to break the $6900 mark, scrap copper shortage on copper price support is still there, demand side inventory again decline positive to show, but the dollar index is obviously strong, superimposed on macro tension heating up, it is expected that today's London copper or continue to fluctuate
    .

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