The copper market is strong and the aluminum market is still moving

Last week, the London Metal Exchange's copper market fell after hitting record highs. The high copper prices made traders cautious about future price movements, and the US dollar steadfastly suppressed copper prices. Shanghai copper market prices rose strongly last week and transactions were active. Strong copper and good spot fundamentals supported the copper price. Shanghai copper prices were affected by the decline in copper prices on Friday, and finished sideways in the historically high zone. The main 0506 contract closed at 31,160 yuan/ton on Friday, up 590 yuan from the previous Friday's close. In the week, the cumulative turnover of contracts reached 589,000, and the turnover was RMB 92.51 billion. Last week, the international aluminum market was active. It once rose to a 10-year high of 2016, but then the price fell and could not return to this level again. Last week, the aluminum market in Shanghai and Lon Aluminum also followed a trend. Trading enthusiasm increased, and trading volume and open interest increased steadily. The main 0506 contract closed at 16,830 yuan/ton on Friday, down 150 yuan from last Friday's close. In the week, the cumulative turnover of contracts reached 237,000, and the turnover was 20.07 billion yuan. Source: China Nonferrous Metals

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