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June 4 London Copper Afternoon Review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Concerns about the Fed's tapering support intensified, and copper closed down nearly 3% overnight to a more than one-month low, with sluggish demand in the peak season and market consumption enthusiasm still suppressed, and copper fell sharply today
.

London copper

Strong data on U.
S.
employment and services pushed the dollar higher, fears of Fed tapering support intensified, and copper continued to weaken overnight, falling to a more than one-month low, with the latest closing quotation of $9819/ton, down $295, or 2.
92%, with a volume of 24,098 lots up 13,534 lots and a 1,246 increase in 316111 positions
.

In terms of inventories, the London Metal Exchange (LME) reported 125,450 tonnes of London copper on June 3, an increase of 2,100 tonnes, or 1.
70%,
from the previous trading day.

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