July 14 AMT Review of LME Base Metals

The following is a daily review of base metals transactions published on July 14 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Copper: The resistance level of 3380 US dollars failed to break through, and it is expected that the support level will be tested in the short term. Aluminum: It continued to rise higher under the fund buying, but profit-taking came at the end of the day. Lead: The trend is flat throughout the day and is expected to decline in the short term. Zinc: 181182-1240 range of fluctuating operation for several weeks, it is difficult to predict the trend of the market outlook. If copper and aluminum are stable, zinc is expected to rise, and the vicinity of $1,180 is still a good point of intervention. Expected resistance levels are $1240, $1250 and $1270. Tin: Although it is sharply higher today, it is expected that the market will continue to rise less. Note: Nickel commentary is not provided.