The dollar index has gone all the way up, and copper prices will continue to come under pressure

Oil prices continued to fall on the last trading day before the holiday, mainly due to the recovery of crude oil production affected by the hurricane, the surge in crude oil inventories, overnight London copper weak shock, the latest closing quotation of 9161 US dollars / ton, closed down 95 US dollars, down 1.
03%, the volume of 12863 lots decreased by 1745 lots, the position volume of 260460 decreased by 920 lots
.
In the evening, Shanghai copper ran weakly, and the latest closing price of the main monthly 2110 contract was 68160 yuan / ton, down 480 yuan, or 0.
70%.

Oil prices continued to fall, and London copper closed down $95 in a row; The supply and demand of overseas mines is good, and the domestic copper concentrate processing fee has steadily increased, but the market transaction before the National Day tends to be light, and the copper price is expected to fall
.

In terms of inventories, the London Metal Exchange (LME) reported 220875 tonnes of London copper on September 29, down 5,750 tonnes, or 2.
54%,
from the previous session.

In terms of news, the supply and demand of overseas mines is good, the domestic copper concentrate processing fee has steadily increased, the shortage of raw materials continues to improve, and the profit of smelters continues to expand, but the market transaction before the National Day tends to be light, the enthusiasm for stockpiling is not high, and the copper price is expected to fall
.

Industry news, 1.
The CSPT team finalized the spot copper concentrate procurement guidance processing fee of 70 US dollars / ton and 7.
0 cents / pound
in the fourth quarter.
2.
Peru's Ministry of Energy and Mines said on Twitter on Wednesday that an agreement has been reached to temporarily lift the roadblocks
that prevent the Las Bambas copper mine from transporting metals to the port.

At present, the market's expectations for the Fed's tapering of bond purchases continue to rise, coupled with the impasse in the United States due to the bond purchase ceiling, the dollar index continues to rise sharply, reaching a nearly one-year high
.
With the Fed repeatedly tightening expectations, US Treasury yields continue to rise, and the US dollar index has also been rising, so copper prices will always be under pressure
.