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    Home > Chemicals Industry > New Chemical Materials > November 9 London Copper Morning Review

    November 9 London Copper Morning Review

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    Overnight, London copper extended the daily rally, and the rise further expanded, of which the three-month London copper soared 2.
    89% to 5247 US dollars / ton, the daily closing price hit a high since October 16 last year, and the cumulative rise of London copper in the past three weeks was 13.
    25%.

    In terms of positions, on November 7, the position of London copper was 344,000 lots, an increase of 4,728 hands per day, and the increase in copper positions in the past three weeks has risen, indicating that the rise in copper prices has been promoted by funds, and the difference between long and short has increased
    .

    London copper

    Industry information: Russian customs data show that copper exports from January to September this year were 389,500 tons, a year-on-year decrease of 4.
    4%.

    Stockpiles: As of November 8, LME copper stocks were 291625 tonnes, down 6,775 tonnes per day, but still higher than the average inventory of 217,000 tonnes during the year, and the high point of stocks during the year was 379175 tonnes
    .

    London Metal Exchange (LME) copper futures hit a one-year high on Tuesday as buying was triggered by expectations of stronger demand from China, the world's largest consumer, and optimism that Democratic presidential candidate Hillary Clinton would win the election
    .
    Ipsos "States of the Nation" tool shows that Clinton has about a 90 percent chance of defeating Trump to win the presidential election
    .
    She is seen as a candidate who can maintain the status quo, with more predictable
    policies than Trump's election.

    At 17:00 London time on November 8 (01:00 Beijing time on November 9), three-month copper closed up 2.
    7% at $5,235.
    50 a tonne, hitting its highest intraday level of $5,248.
    50 since Oct.
    23, as funds bought
    after rising above a key resistance level of about $5,150.

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