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During the European and American hours, the evening London copper plate initially due to the fall of the US index and the continuous low level of LME inventories announced in the afternoon, copper prices continued to maintain a strong upward posture in the afternoon, and then at 19:00 copper prices in a narrow range of 6216 US dollars / ton after sorting, copper prices broke up again, successfully standing at the intraday high of 6240 US dollars / ton, but then by the US release of September personal consumption expenditure data better than the previous value boosted, The U.
S.
index rose back to 96.
7, and the pessimism of the U.
S.
stock market fell again to affect the futures market, copper prices fell under pressure to the daily average of 6201 US dollars / ton around a narrow range, the end of the session long position closed the market, copper prices continued to decline, spitting out the intraday gains, closing at 6127 US dollars / ton
.
Last night, the United States released considerable consumption data for September, in addition, U.
S.
stocks continued to fall, copper prices under pressure, although LME inventories remain low, but also indirectly illustrating the tension between China and the United States trade war brought about trade concerns between the two countries, and the political turmoil in Europe still suppresses the euro, the dollar is affected by this strong, copper prices are expected to remain around $6200 / ton in the short term
.
Copper fell sharply overnight, mainly due to a decline in U.
S.
stocks and investor concerns that the global economic slowdown would affect copper demand
.
Fundamentals, copper inventories on the three major exchanges are low, supporting copper prices
.
Global stock markets and other commodity markets such as crude oil fell sharply this month as investors worried that higher interest rates would slow global economic growth
.
