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January 27 London Copper Afternoon Review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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London copper afternoon commentary: oil prices continued to rise, overnight London copper closed up $60; Geopolitical risks weighed on market risk appetite, but the non-ferrous sector had a good atmosphere, and copper prices were supported by lower demand and a good macro orientation, and copper is expected to rise
today.

London copper

Due to the intensification of geopolitical risks and the imbalance of the already tight oil market, oil prices continued to rise, and copper fluctuated strongly overnight, the latest closing quotation of 9905 US dollars / ton, closed up 60 US dollars, or 0.
60%, the trading volume of 42928 lots increased by 14626 lots, and the position 254248 decreased by 381 lots
.
In the evening, Shanghai copper fluctuated at a high level, and the latest closing price of the main monthly 2203 contract was 70950 yuan / ton, up 850 yuan, or 1.
21%.

The London Metal Exchange (LME) reported its latest stock of London copper at 93,250 metric tons on January 26, down 3,425 metric tons, or 3.
54%,
from the previous trading day.

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