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London copper afternoon commentary: the Fed's interest rate hike expectations pushed the dollar to jump to an eight-week high, and London copper fell 3.
46% the next week; Domestic copper concentrate supply is abundant, Shanghai copper stocks continue to rise, supply concerns eased, copper is expected to fall
today.
The Fed's expectation of a rate hike pushed the dollar to jump to an eight-week high, and the next week London copper was weak and volatile, the latest closing quotation of $9830 / ton, closed down $352, down 3.
46%, the volume of 22923 lots decreased by 4411 lots, and the position 259658 increased by 5658 lots
.
Shanghai copper ran weakly on Friday night, and the latest closing price of the main monthly 2203 contract was 70890 yuan / ton, down 1620 yuan, or 2.
23%.
The London Metal Exchange (LME) reported its latest stock of London copper at 74,100 metric tons on February 11, down 2,225 metric tons, or 2.
92%,
from the previous trading day.