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    Home > Chemicals Industry > New Chemical Materials > October 19 London Copper Afternoon Review

    October 19 London Copper Afternoon Review

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Yesterday, London copper opened a four-day negative lower mode, opened at 6214.
    5 US dollars / ton, European session, the US dollar index fell sharply, London copper's center of gravity moved up to break the daily moving average, blocked by 6200 US dollars / ton, around the daily average wide range shock after the dollar index strengthened again, London copper quickly straight down to the daily average below the wide range of oscillations, down to the intraday low of 6128.
    5 US dollars / ton, evening, by the release of the United States October 13 weekly initial jobless claims data lower than expected, boost London copper, Copper prices climbed again to a narrow range near the daily moving average, but in the evening, the US index strongly wanted to break through the 96 mark, suppressing copper prices, copper prices fell all the way, the lowest level to 6121.
    5 US dollars / ton, closed at 6132 US dollars / ton, down 88.
    5 US dollars / ton, down 1.
    42%.

    London copper

    The EU said Italy's draft 2019 budget seriously violated the relevant provisions
    of the EU budget.
    Justifiably serious fiscal problems, the euro tumbled
    overnight.
    At the same time, senior Fed officials spoke that they would firmly continue to raise interest rates, and the dollar rose sharply close to the 96 mark
    .
    Non-ferrous metals continued their weakness
    under the pressure of a sharp rise in the dollar and US Treasuries.
    China's September economic data will be released this morning, and the downward pressure on the economy may be greater
    .

    After the holiday, the overall decline in copper inventories slowed down, and the spot discount maintenance reflected that the short-term supply and demand contradiction was not prominent
    .
    Recently the domestic stock market has plunged, the commodity market has been weak, macro sentiment is pessimistic, and the US dollar has restrengthened, copper prices are under pressure or continue to move
    downward.
    FYI
    .

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