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Overnight, London copper opened at 4615.
5 US dollars / ton, during the Asian session, London copper fell to 4592 US dollars / ton, and then stabilized and rebounded, and the Asian market fell sharply to a minimum of 4590 US dollars / ton; Entering the European session, London copper rebounded to 4617 US dollars / ton and fell again, then crude oil due to OPEC meeting again aborted and rubbed, London copper affected as low as 4571.
5 US dollars / ton, overnight EIA crude oil inventory then reduced, crude oil rebounded, London copper counter-pumped back down, fell again at the end of the day, and finally closed at 4957 US dollars / ton, down 9 US dollars / ton
from the previous day's closing price.
On the news front, U.
S.
private employment increased in May and jobless claims fell in the latest week, further boosting the economic outlook
for the second quarter.
Asian stocks held steady on Friday as investors awaited the release of U.
S.
non-farm payrolls later
today.
London copper was little changed on Friday, but the weekly line was down 2 percent as a strong dollar and weakening seasonal demand from China, the largest consumer, weighed on prices
.
Three-month LME copper fell 0.
1 percent to $4,603 a tonne, closing flat on Wednesday and hitting a one-week low of $4,565.
50 a tonne
.
London copper recorded a weekly decline of 1.
9% this week
.
