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Overnight, London copper opened at $5580/ton
.
During the Asian session, driven by the short covering, the daily average of London copper shunshun rushed to 5614 US dollars / ton, and then began to consolidate the test around the daily moving average, entering the European session, LME copper inventory increased by 32925 tons, Lun copper heard the sound of a sharp dive, then the low level of rebound but still under pressure on the daily moving average, the evening London copper went down another layer, touched the lowest level in 4 months of 5494 US dollars / ton, the end of the day stopped falling and rose, closed at 5540.
5 US dollars / ton, down 52 US dollars / ton, the volume increased by 415 hands to 27772 hands, The warehouse increased by 5322 lots to 343680 lots
.
The London Metal Exchange (LME) copper contract fell to a five-month low on Thursday, the biggest drop in the past two days since July 2015, on rising inventories and fears of falling
demand.
LME three-month copper fell 1% to close at $5,543 a tonne at 16:00 London time on May 4 (00:00 Beijing time on May 5
), after hitting its lowest since Jan.
4 at $5,494.
Data earlier this week showed that U.
S.
manufacturing activity slowed in April, and China's manufacturing growth was slower-than-expected
.
U.
S.
factory orders rose for the fourth straight month in March, but less than expected, and factory orders data were revised upwards in February, indicating a continued recovery
in manufacturing, Commerce Department data released on Thursday.
U.
S.
factory orders rose 0.
2% in March from the previous month, compared with an expected increase of 0.
4%, and were revised upwards to 1.
2% in February versus an increase of 1.
0%
in the previous month, the Commerce Department reported.
Danske Bank analysts said weak manufacturing data released this week, especially from China and the United States, had a negative impact on base metals, and the market began to lose patience
with the lack of progress on US President Trump's infrastructure spending plan.
Producers were caught off guard by the slowdown in the industrial cycle and, as a result, had to put base metals into warehouses
.
LME data showed a recent increase in copper stocks in London Metal Exchange warehouses by nearly 33,000 tonnes, bringing the increase in inventories this week to 64,000 tonnes, or 25%.
Overnight London copper center of gravity stepped down, LME copper stocks continued to increase, China's manufacturing industry, service industry PMI in April are not as good as the previous value, supply and demand side concerns put pressure on copper prices, London copper down pierced the lower rail after a slight willingness to stop falling, is expected to have a struggle near the lower rail, is expected to run at 5500 ~ 5560 US dollars / ton
today.
Watch for the US non-farm payrolls change data for April in the evening
.
![disodium 4,4'-bis[[4-anilino-6-[(2-carbamoylethyl)(2-hydroxyethyl)amino]-1,3,5,-triazin-2-yl]amino]stilbene-2,2'-disulphonate CAS NO 27344-06-5](https://file.echemi.com/fileManage/upload/cas/77/e1abc71f-648d-403c-93fe-69b5c9401d56.gif)
