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August 29 London Copper Afternoon Review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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London copper afternoon commentary: the Fed maintained a hawkish tone, London copper closed down 0.
17% the next week; The output of major smelters is restricted, but the domestic spot procurement demand is extremely weak, and the trend of copper prices is under pressure, and copper is expected to fall
slightly today.

London copper

The Fed maintained a hawkish tone, and Chairman Powell made it clear that continued tightening is the path to curb inflation, and the next week London copper fluctuated downward, the latest closing quotation of 8129 US dollars / ton, closed down 14 US dollars, or 0.
17%, the volume of 17776 lots increased by 6523 lots, and the position 245906 lots decreased by 1485 lots
.
Shanghai copper rushed back down on Friday night, and the latest closing price of the main monthly 2210 contract was 63,500 yuan / ton, up 160 yuan, or 0.
25%.

The London Metal Exchange (LME) reported 120525 tonnes of London copper on August 26, down 1,600 tonnes, or 1.
31%,
from the previous session.

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