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    Home > Chemicals Industry > New Chemical Materials > May 10 London Morning Review

    May 10 London Morning Review

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    Overnight, London copper opened at 4781 US dollars / ton, during the Asian session, London copper first fell to around 4720 US dollars / ton, encountered resistance and rebounded slightly, and then continued to fluctuate lower; Entering the European session, London copper touched a weak shock touched the lowest 4703 US dollars / ton, and then crude oil rebounded to drive copper prices to rise to a low level of 4725 US dollars / ton around the shock stabilized, overnight crude oil dived, the US dollar strengthened, London copper fell twice below the 4700 US dollars / ton mark, and finally closed at 4686.
    5 US dollars / ton, down 101.
    5 US dollars / ton
    from the previous closing price.

    London copper

    In terms of stocks, as of May 9, LME copper stocks reported 159,600 tons, an increase of 575 tons from the 6th, setting a record level
    since March 17 this year.

    According to industry information, Brazil's copper ore exports in April fell 32% year-on-year to 62,862 tons, mainly affected by the decline in the volume shipped to China and India, and the copper ore exported to China was 24,055 tons
    .
    From January to March this year, copper ore and concentrate imported from Brazil were 32,774 tons, an increase of 52.
    76%
    year-on-year.

    Overall, overnight London copper was dragged down sharply by the surrounding market such as black, each moving average is basically a short arrangement, the bottom is close to the previous low, the decline is expected to be blocked, today London copper should run
    within 4670 US dollars / ton to 4715 US dollars / ton.

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