July 27 AMT comment on LME base metals

The following is a daily review of base metals published on July 27 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Copper: The resistance level was again tested on the same day, but the copper price failed to break through the resistance level. Buy on the bargain. Lead: The stock fell to a low early in the day due to sell-off, but then it quickly gained through short-covering and strong copper, and closed higher on the final day. It is expected that there will be further short covering activities on the 28th. Zinc: It showed a strong early morning, and then gradually increased. However, the zinc price trend still lacks a clear direction, and it still maintains a range fluctuation. Tin: It fell below the support level of 7,000 US dollars on that day and was mainly affected by the long liquidation activity. However, it is expected that the short-term decline in tin prices will be relatively limited. Nickel: Once again, it showed a flat trend. The three-month nickel for LME is nearly flat at $14075/100. Note: AMT has not issued a daily comment on aluminum on the 27th.