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Last night, during the European session, copper fluctuated downward, and copper prices fell from a high of $5877.
5 / ton, and tested a lower of $5852 / ton
before the US market.
After entering the US trading session, the decline in copper prices continued to expand, and the center of gravity of copper prices fell back to around
5805 US dollars / ton.
Finally, London copper closed at 5,801 US dollars / ton, down 0.
49%, with a volume of 14,000 lots, and a short position of 1,027 lots, with a position of 294,000 lots
.
Last night, copper prices fell to hit recent lows, mainly due to the uncertainty of trade negotiations and dismal economic data from Asia, while Germany's third-quarter GDP avoided recession, but it is difficult to change the market's weak expectations for the euro area economy, and the US tax on European cars means that the manufacturing industry will still be suppressed, the cooling of global risk appetite sentiment since this week continues, making the safe-haven yen more popular, gold prices stand at the 1470 mark, copper prices are suppressed by market risk aversion
。
In terms of crude oil, EIA data showed that U.
S.
crude oil inventories rose by 2.
2 million barrels last week more than expected, and U.
S.
crude oil production hit a record high, coupled with macro weakness, U.
S.
oil prices fell below $57 in the evening, forming a linkage
to copper prices.
