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    Home > Chemicals Industry > New Chemical Materials > October 17 London Copper Afternoon Review

    October 17 London Copper Afternoon Review

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    During last night's European session, London copper consolidated at a low level, competing for the $5,700 / ton position
    .
    After entering the US session, copper prices began to show signs of rebound, copper price center of gravity first moved up to around 5820 US dollars / ton, sideways after continuing to rise, testing 5737.
    5 US dollars ton, copper prices fell slightly at the end of the session, and finally London copper closed at 5721.
    5 US dollars / ton, down 0.
    93%, trading volume 17,000 lots, position decreased by 4504 lots to 279,000 lots
    .

    London copper

    U.
    S.
    retail sales data for September fell 0.
    3% month-on-month, the first decline since February, exacerbating economic slowdown concerns, overnight London copper continued to be weak, the latest closing quotation of 5722 US dollars / ton, down 54 US dollars, or 0.
    93%, the volume of 16884 lots increased by 5196 lots, and the position 289295 increased by 5958 lots
    .

    Marginal improvement in demand in individual areas, the policy force of automobile and air conditioning consumption needs to be shown, power grid investment is still facing greater pressure, real estate support for copper is relatively limited, overall demand or difficult to improve significantly, the current fundamentals have no obvious contradiction, lack of substantial benefits, under the pressure of global economic slowdown, copper prices are under pressure, and spot copper prices are expected to fall
    today.

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