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Overnight, London copper opened at 4620 US dollars / ton, the Asian session US index fell slightly, London copper shun daily moving average oscillation higher, in the 5-day moving average around 4625 US dollars / ton to start a long and short battle, the Bank of Japan said that the central bank will unswervingly continue to maintain easing, the yen against the dollar continued to fall, pushing the dollar back to 96.
165, bulls on high shipments, copper prices under pressure to fall, low touch 4610 US dollars / ton, low to stimulate short liquidation outflow, London copper continued to rise to 4641 US dollars / ton, Subsequently, the high fell back to the high level suppressed by the strengthening of the US dollar, and it rebounded again at night, and then was dragged down by the crude oil diving to give up all the gains, and finally closed at $4618 / ton, up $9 / ton
from the previous day's closing price.
Industry news: Mexico's copper production in June rose 11.
9% year-on-year to 46,111 tonnes
, according to Mexico's National Institute of Statistics.
Stocks: As of August 31, LME copper stocks reported 293525 tonnes, up 10,300 tonnes from yesterday, an increase of seven consecutive days, and a new high
since October 19 last year.
London copper futures rose on Wednesday as investors covered shorts, but fell 6 percent on a monthly basis in August as warehouse inventories rose in Asia, hinting at sluggish
demand from China, the biggest consumer.
At 16:00 London time on August 31 (00:00 Beijing time on September 1), three-month copper closed up 0.
2% at $4,617, as funds and traders flattened short positions, helping copper futures rise
.
