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London copper afternoon commentary: stock market crude oil both fell, overnight London copper closed down 1.
5%; Expectations of a global recession have heated up, and weak Chinese PMI data has sparked concerns about weak demand, but copper may rise
today as the central bank stepped up credit support.
Stock market crude oil both fell, the Fed will raise interest rates sharply again, the market is generally expected to raise interest rates by 75 basis points by then, superimposed on the impact of the spread of the epidemic, demand continues to weaken, overnight London copper continued to be weak, closing in the black line, the latest closing quotation of 7444 US dollars / ton, closed down 114 US dollars, down 1.
50%, the volume of 17284 hands increased by 1806 lots, and the position 236968 decreased by 1477 lots
.
In the evening, Shanghai copper opened low, and the decline narrowed at the end of the day, and the latest closing price of the main month 2212 contract was 62150 yuan / ton, down 220 yuan, or 0.
35%.
The London Metal Exchange (LME) reported 113125 tonnes of London copper on October 29, down 6,250 tonnes, or 5.
24%,
from the previous session.
