Today’s copper price
CCMN spot copper price: 73750 yuan / ton, down 0 yuan / ton
Import demand may be weak, copper may rise or fall Limited
Abstract: the employment index of the United States was weak in May. The copper price fell by 36 US dollars overnight. The copper strike in Chile had limited impact. China’s metal import demand may be weak. Today’s copper price is limited.
[copper futures market] the manufacturing data of the United States in May was better than expected, but the employment index was weak, and the overnight fluctuation of copper was weak. The latest closing quotation was 10239 US dollars / ton, down 36 US dollars, or 0.35%. The trading volume was 18460, down 217, and the position was 311220, down 3760. In the evening, Shanghai copper rose and fell. The latest closing price of the main monthly 2107 contract was 73870 yuan / ton, down 120 yuan or 0.16%.
London Metal Exchange (LME) reported its latest inventory of 120700 tons on June 1, down 1725 tons or 1.41% from the previous trading day.
BHP said that despite the ongoing strike, the operations of the two copper mines in Chile, Escondida and Spence, are still normal because they call in replacement workers to maintain mine operations; Yangshan copper premium hit a record low, China’s metal import demand may be weak, today’s spot copper price is expected to rise or fall limited.
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