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September 16 copper market noon review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Copper market noon comment: LME copper inventories stopped falling and rebounded, overnight London copper rushed back down to close down $22, the impact of the epidemic on global copper output has slowed down, domestic smelting capacity has gradually recovered, and copper materials fell
today.

Copper City

LME copper inventories stopped falling and rebounded, increasing by 3675 metric tons, writing off warehouse receipts fell by 15%, overnight London copper rushed back down, the latest closing quotation of 6758 US dollars / ton, down 22 US dollars, down 0.
32%, the volume of 12280 lots increased by 996 lots, and the position volume 325043 decreased by 898 lots
.
In the evening, the trend of Shanghai copper was weak, and the latest closing price of the main month 2010 contract was 51780 yuan / ton, down 360 yuan, or 0.
69%.

Fitch said copper production in the Republic of Congo is expected to decline by 3.
5% in 2020, well below the previously expected 18% decline, as the supply shock caused by the pandemic slows, and global copper production is expected to decline by 1.
3% in 2020.
Domestic smelting capacity is gradually recovering, the current market demand is not improving, and spot copper prices are expected to fall
today.

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