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Last night's European session, London copper began to rebound from the 5807.
5 level, copper prices fluctuated upward, testing 5839 US dollars / ton
before the US market.
After entering the US trading session, copper prices first continued to test high to 5846.
5 US dollars / ton, and after coming to this position, they quickly fell back to 5811.
5 US dollars / ton
.
Intraday London copper rebounded, finally closing at 5,826 US dollars / ton, with a volume of 11,500 lots, and a position increase of 1,293 lots to 284,000 lots
.
Copper prices retreated last night, mainly due to pessimistic Brexit sentiment, the pound fell back to around 1.
28, the US dollar edged higher and held steady at 97.
5, copper prices slightly under pressure and slightly retreated
.
At present, Brexit is still the main driving force affecting copper prices, and the British Parliament voted to reject the motion to quickly pass the Brexit bill, the market risk aversion has rekindled, and the CMX gold price has basically remained stable at the 1500 mark, which is also beneficial to copper prices
.
The global economic situation has not improved significantly, the US existing home sales data in September is less than expected, the market has further increased expectations for the Fed's interest rate cut, API crude oil inventories continue to increase, reflecting that the market continues to be bearish on manufacturing demand, the overall economy does not show obvious signs of improvement, there is some pressure
on copper prices to rise.
It is expected to fall back slightly today
.
