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May 29 London Morning Review

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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London copper closed overnight, today London copper opened at 6845 US dollars / ton, slightly up at the beginning of the session
.

London copper

The center of gravity of the US dollar rose again overnight, and London copper opened low today, showing a slight upward trend at the beginning of the session, but it was under pressure from the strength of the US dollar, and it is expected that the shock pattern will continue
.
It is expected that today's London copper 6820~6880 US dollars / ton
.

Overall, the continued strength of the US dollar put pressure on copper prices, and the impact of the sharp pullback in oil prices was weak
.
At the micro level, London copper inventories have stopped growing, and the write-off of warehouse receipts has risen sharply, which may cause inventory outflows
again due to the shutdown of copper mills in India.
Possible changes next week: The May manufacturing PMI of the world's advanced economies will be released in a concentrated manner, and market expectations have fallen
slightly.

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