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On Friday, U.
S.
Treasury yields rose, with the 10-year yield regaining 3.
2%
intraday.
The U.
S.
index fell back to a low of 95.
5, London copper ended a four-day negative streak, opening at $6135 / ton, during the Asian session, London copper fluctuated all the way upward, copper prices broke through $6180 / ton at the beginning of the session after a narrow range of shock finishing, and then quickly tested to the highest level of the day of 6242.
5 US dollars / ton, then bulls feared heights and partially left the market, copper prices fell slightly to around $6197, but in the evening the United States released existing home sales data for the sixth consecutive month of decline, the dollar index fluctuated downward below 96, Copper prices climbed again to a high of $6240.
5 / ton, and copper prices fell back to around $6210 / ton at the end of the session, closing at $6222 / ton, up 1.
47%
on the day.
Last week, U.
S.
retail sales in September fell short of expectations, the U.
S.
budget deficit rose to a six-year high, the dollar index fell below the 95 mark, and then the minutes of the Federal Reserve meeting pointed to further interest rate hikes, the dollar index rose to 95.
99, the dollar index broke through the 96 mark over the weekend, London copper fell from this week's high, the center of gravity gradually shifted, from a high of 6342 US dollars / ton at the beginning of the week to a low of 6121.
5 US dollars / ton, down 220.
5 US dollars / ton, a weekly decline of 1.
61%.
LME copper stocks fell 16,100 mt this week to 154,000 mt, at a record low
.
After closing in a four-day streak, the center of gravity fell below the mid-band of the Bollinger track, testing lower $6121.
5/mt, and copper prices are currently seeking support
from the bottom of the 40-day and 60-day moving averages.