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London copper afternoon commentary: The fall of the dollar boosted metals, and the overnight London copper rally closed up 2.
79% to hit a more than 10-week high; Recycled copper imports fell sharply, social inventories fell, copper prices below strong support, and spot copper is expected to rise
today.
The fall in the dollar boosted metal prices, and copper rebounded overnight, with the latest closing price at $9,718, up $264, or 2.
79%, the highest level since the end of July this year, with a volume of 21,925 lots up 5,431 lots and a 261755 decrease of 1,148 positions
.
In the evening, Shanghai copper futures rose across the board, and the Shanghai copper 2110 contract opened higher and closed at 71780 at night, up 1470, or 2.
09%.
The London Metal Exchange (LME) reported its latest stock of London copper at 191,600 metric tons on October 13, down 3,650 metric tons, or 1.
87%,
from the previous trading day.
