Copper prices on the London Exchange (LME) fell from a three-week high as the dollar strengthened and oil prices fell.

Prior to the last session, copper prices had two consecutive gains as investors increased their purchases of the metal as a hedge against inflation in the context of oil prices rising to unprecedented highs in recent years. . However, the stronger USD pulled the price of copper back down.
At the end of the session 6/7, the price of 3-month copper futures on the London floor fell 2.5% to 9,270 USD/ton, in one session touching 9,632.50 USD, the highest level since June 16.

Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen, said copper prices on the LME were unable to sustain a break above the 21-day moving average, as speculators sold heavily. They consider the price increase of the past 2 sessions as a short-term bullish signal of technical nature. Futures trading price list of some metals on the Shanghai Exchange

(Unit: CNY/ton).