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August 22 London Copper Afternoon Review

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

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Recently, the US dollar has continued to fall, and non-ferrous metals have continued to rebound
.
Overnight, Lun copper continued to close the small white line, standing firm at the $6,000 mark, and opened slightly lower with the 10-day moving average
today.

London copper

The fundamental dollar continued to fall, and the appreciation of the renminbi boosted domestic commodities
.
Market rumors suggest that the U.
S.
-China consultations may have a good outcome
.
The International Copper Research Group (ICSG) said in its latest monthly report that the global refined copper market was short of 31,000 tonnes in May and 105,000 tonnes
in April.

With market sentiment repairing this week, compounded by Trump's accusations of Fed policy, the dollar pulled back and metals ushered in a rebound
.
The domestic inventory continues to be destocked sharply, the contradiction of the supply structure is not prominent, and the sharp decline in copper prices in this round has fully released risks, and the space for further plunges is relatively limited
.
Copper prices are expected to stabilize this week
.

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