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August and July London Copper Afternoon Review

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

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On Friday, London copper rushed back down, guided by the news of the trade war many times during the session, the high was around $6230 / ton, and then fell back to around $6150 / ton, closing at $6176 / ton, the transaction minus 1043 to 17868, and the position increased by 3600 to 312,000 lots
.

London copper

In terms of news, the released China's economic data for the second quarter can be said to have performed poorly, especially the growth rate of urban fixed asset investment from January to June hit a record low, putting great pressure
on the market to bullish nonferrous demand.
US GDP growth was strong in the second quarter, but the newly released ADP data fell short of expectations, but the market remains confident
about the future growth of the United States.

On the whole, copper prices closed slightly lower last week, macro-level factors continued to suppress prices, and spot support weakened
as the pace of refined copper inventories slowed.
In addition, there is uncertainty about the Chilean copper strike, and current prices reflect low
market expectations of a strike.

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