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    Home > Chemicals Industry > New Chemical Materials > November 20 London Copper Afternoon Review

    November 20 London Copper Afternoon Review

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Last night, London copper was supported by the daily moving average and oscillated
    widely.
    During the European session, copper prices fluctuated in a wide range of 6221-6253 US dollars / ton, the center of gravity briefly touched below the daily moving average for many times, at the beginning of the US market, the market continued, bottoming out at 6215 US dollars / ton after the US index was frustrated down to 96.
    096, short positions reduced, boosting Lun copper, copper prices short-term touch 6274 US dollars / ton, the center of gravity at the end of the session fell back to 6250 US dollars / ton, closed at 6255 US dollars / ton, trading volume 15775 lots, position 2777 hands to 318,000 hands
    .

    London copper

    Recently, by the Fed's remarks on interest rate hikes slightly softened, the U.
    S.
    index fell back to around 96, the recent still pay attention to the Fed's interest rate hike remarks on the impact of the U.
    S.
    index, in addition, APEC meeting failed to issue a leader's declaration, Sino-US contradictions again, it is expected that trade negotiations will have an impact, the current market estimate of the U.
    S.
    index peaked, the U.
    S.
    index is expected to remain downward, and pay attention to the impact of the continued fermentation of Brexit on the euro, Brexit is gradually on track, it is expected that the pound sterling, the euro still has room to rebound, It will be negative for the dollar and boost commodities
    .

    LME copper stocks decreased by 9,400 metric tons to 151625 metric tons on November 19, which has declined for 11 consecutive trading days, and domestic copper stocks have fallen for three consecutive weeks as of last Friday, and domestic and foreign inventories continue to degrade to support copper prices; Spot copper prices are expected to edge higher today on hopes that the U.
    S.
    -China trade dispute will be resolved, as the country threatens higher
    tariffs on Chinese goods by the United States.

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