Luntong, also known as London Copper, is an international copper futures contract, which is traded on the London Metal Exchange (LME). Copper is one of the main pricing benchmarks in the global copper futures market, and its price fluctuation has an important impact on the global copper industry.

The specific content of Luntong contract is electrolytic copper with specified quality. The standard contract unit is 25 tons, and the price is denominated in US dollars. Traders and investors predict the future trend of copper prices by buying and selling copper contracts, so as to gain profits or hedge the risk of copper price fluctuations.

The London Metal Exchange is one of the largest nonferrous metal exchanges in the world. Besides copper, it also trades other basic metals, such as aluminum, zinc, lead, nickel and tin. The price trend of these metal futures contracts is of great guiding significance to the production and sales of global non-ferrous metals industry.

The price of copper is influenced by many factors, including the global economic situation, the relationship between supply and demand of copper, geopolitics and exchange rate fluctuations. Because copper is widely used in construction, electric power, electronics and other industries, the fluctuation of copper price has certain influence on many industries.

Generally speaking, Luntong is an international copper futures contract, which is traded on the London Metal Exchange, and its price fluctuation has an important impact on the global copper industry.