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On Friday evening, during the European session, London copper extended its afternoon decline, testing a lower of $5808.
5 / ton
.
After entering the US trading session, copper prices began to rise, rising to 5847 US dollars / ton and then began to shock consolidation, and then rose again, testing 5867.
5 US dollars / ton
.
Finally, London copper closed at $5862/ton, up 0.
96%.
Today, the trading volume of London copper was 14,000 lots, and the short position was reduced by 1,656 lots, and the position volume reached 283,000 lots
.
Copper prices rebounded on Friday, mainly benefiting from positive signals from the improving trade situation, and the US non-farm payrolls report for October was very strong, and the previous value was revised sharply upward, improving the previous expectations of concerns about the US economy, and the demand outlook is expected to improve
.
In addition, China's Caixin manufacturing PMI data also performed strongly, dispelling some of people's
concerns.
The latest non-farm payrolls data in the United States was better than market expectations, but the ISM manufacturing PMI contracted for the third consecutive month in October, the dollar index fell for five consecutive days to a more than three-month low, and the next week London copper trend was strong, the latest closing quotation of $5862 / ton, up $56, or 0.
96%.
