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Express News | Luntong fell below 9,900 US dollars/ton, falling 2.90% during the day.
The London Metal Exchange takes action! Direct attack on the chaos in the copper market
On Friday, copper inventories on the London Metal Exchange hit their lowest level since 1974, driving copper prices to the biggest weekly increase since 2016, to over 10,000 US dollars per ton.
Express News | Copper spot premiums soared to the highest level since 2012, indicating a sharp tightening in market supply
Goldman Sachs: Copper is currently the most underrated commodity
Goldman Sachs believes that global copper inventories may reach the lowest level in history by the end of the year. It is expected that the copper market will experience serious supply and demand imbalances, and raise the copper price forecast to 10,500 US dollars/ton by the end of the year.
Express News | Copper futures have continued to rise by more than 2%. The US copper sector strengthened. McMorran Copper rose more than 6%, and Southern Copper rose nearly 3%.
Express News | LME copper prices continued their decline, falling below $9,000 per ton, the first time since April 14 that it fell below $9,000.