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On Friday, the night market London copper extended the rebound, and the rise further expanded, of which the 3-month London copper rose 1.
2% to 4845 US dollars / ton, for five consecutive days, the daily closing price is close to the high since September 30 this year, further verifying the effectiveness of
the upward breakthrough of London copper.
In terms of holdings, on October 27, the position of London copper was 317,000 lots, an increase of 3,341 lots per day, which was at a low level during the year, indicating that the sentiment of the copper market is still sluggish
.
Industry news: Chile's copper production in September was 460986 tons, down 2.
5% year-on-year, as work interruptions caused by strikes and accidents were affected
.
2 As of the week of October 25 this year, US copper CFTC speculative long positions increased by 3400, short positions increased by 6012 lots, speculative net positions were net short 13754 lots, weekly increase of 2612 lots, indicating that speculative funds have risen in enthusiasm for bearish copper prices
.
Stocks: As of October 28, LME copper stocks reported 326,400 tons, a weekly decrease of 20,375 tons, much higher than the average inventory value of 217,000 tons during the year, and the high point of stocks during the year was 379175 tons
.
London copper fell on Monday, hitting a new high of more than two weeks earlier in the day, boosted by stronger-than-expected demand in China, but the monthly line is expected to close flat; Coal prices pushed aluminum prices to close higher
for the second consecutive month.
Three-month copper on the London Metal Exchange (LME) briefly touched $4,852.
5 a tonne, the highest level since Oct.
11, and closed up 1.
1 percent
on Friday.
The contract was last down 0.
29% to $
4,829 a tonne.
