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Last week, it was the National Day holiday, and the domestic market
was closed for the previous period.
The U.
S.
index climbed strongly last week, breaking through 96 on Wednesday and cooling back to 95.
5
on Thursday as the U.
S.
-Mexico-Canada FTA was finalized.
London copper fluctuated in a wide range on Friday, opening at 6234.
5 US dollars / ton, during the Asian session, it fell sharply due to the pressure of the US dollar, and the bears accumulated strength, and the market fell to the lowest point of 6152 US dollars / ton
.
During the European and American session, the US September non-farm payrolls data was released, the US index fell 0.
03%, London copper rebounded, touched a high of 6242 US dollars / ton, and finally fell back to close at 6186.
5 US dollars / ton, down 0.
67% from the previous day, the trading volume decreased by 3589 lots to 11769 lots, and the position increased by 2830 lots to 292,000 lots
.
In terms of stocks, LME copper stocks were 186,800 tonnes as of 5 October, down 15,600 tonnes
from 28 September.
On the news, the new non-farm payrolls in the United States in September were affected by the hurricane 134,000 far lower than expected, but August was revised sharply upward, the unemployment rate hit a new low in nearly 50 years in September, and wages still grew steadily; the International Copper Research Organization (ICSG) said that the copper market is expected to be short of 92,000 tons this year and 65,000 tons next year, and global refined copper production is expected to increase by about 2.
7%
this year and next.
On Friday, the dollar fell slightly due to the poor non-farm payrolls data, still remained high, London copper closed at $6186.
5, today London copper opened at 6197 US dollars / ton, is expected to run at 6140 US dollars / ton - 6210 US dollars / ton
today.
