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Last night, Lun Tong ended six consecutive suns
.
During the European session, copper prices continued the afternoon volatility trend, around the daily moving average narrow range, and then the center of gravity slightly moved up to 6245 US dollars / ton around the narrow range of shock, at the beginning of the US market, copper prices short-term touch 6296 US dollars / ton after the center of gravity quickly down, due to the spread of pessimism in the US stocks, the US index rose back to a high of 96.
89, suppressing commodities, bulls left the market, copper prices bottomed out at 6190 US dollars / ton after continuing to fluctuate pattern, under pressure on the daily moving average, the price fell at the end of the session, closing at 6173 US dollars / ton, It fell 82 US dollars / ton on the day, or 1.
31%
during the day.
The US stock market fell in the evening pessimism affected the rise in copper prices, last night the US October new housing start rate data exceeded expectations, boosting the dollar, in addition to crude oil prices at a low level, copper prices upside is blocked, today pay attention to the new market changes in the stock market, it is expected that the conflict signal sent by the Sino-US trade dispute will continue to increase the market cautious atmosphere, London copper gave up nearly two days of gains at the end of the market yesterday, the center of gravity moved
down.
U.
S.
crude oil plunged overnight, the dollar rose sharply, and Trump again "shot" at the Fed on Tuesday, saying he would like to see lower interest rates in response to current economic and financial market conditions
.
Nonferrous trading fell overall, with London copper closing down 1.
37% at $
6,173.
From the perspective of overall financial market performance, as the sell-off in global stock markets triggered safe-haven buying of US bonds and the US dollar, investors are still worried about Sino-US trade issues and China's economic slowdown, macro-level uncertainty and the US dollar is still in an upward trend, all of which have an adverse impact
on copper prices.
