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London copper afternoon commentary: London copper inventory growth intensified demand decline concerns, overnight London copper closed down 1.
17%; The pressure of global interest rate hikes has appeared, copper consumption has declined, and the willingness of domestic downstream replenishment has declined, and copper is expected to fall
slightly today.
The growth of London copper inventories intensified the market's concerns about the decline in demand due to slowing economic growth, and the London copper shock weakened overnight, with the latest closing quotation of $7298 / ton, closing down $87, or 1.
17%, with a volume of 15,009 lots down 1,881 lots and a position of 239086 lots down 2,322 lots
.
In the evening, the Shanghai copper gap opened low, running weakly, and the latest closing price of the main monthly 2208 contract was 56060 yuan / ton, down 430 yuan, or 0.
76%.
The London Metal Exchange (LME) reported 136,200 metric tons of London copper on July 19, an increase of 5,925 metric tons, or 4.
55%,
from the previous trading day.
