LME Metals Most Wednesday Ends Lower Aluminum Alone

Aluminum on the London Metal Exchange (LME) closed higher on Wednesday, buoyed by fund buying, but other base metals closed lower. A trader said that aluminum has jumped more than 5% to about two and a half months in the past few days. The high point is that a U.S. fund buys up to 10,000 contracts from short positions. This drives a lot of buying interest in aluminum. "Three-month aluminum closed at $1,814 per ton, up 9% from Tuesday's close." US dollar. Another trader said, "I think the period of aluminum rally seems to be attributed to the establishment of a new site." "I think the aluminum upper range will be exceeded, but the market outlook will still be in a narrow range." Dealer It said that the aluminum resistance level has risen to 1,830 from 1,820 USD and is expected to continue breaking upwards at a rate of 10 US dollars until 1,850. "It is expected to see more selling pressures approaching 1,850 hours." **Base metals mostly decline** Three-month copper oscillated back and forth between above and below the flat, trading between 3,320-3,387, and fell 5 US dollars to 3,333 yuan per ton at the close. Copper was boosted after the late-night composite trading ended, due to reports that the copper mine Dealer Asarco announced that due to strike factors, the delivery of the domestic copper contract in the United States will be affected by force majeure. "This slightly boosted the market. , but I think this can only provide short-term support. The copper price is currently too high. "Traders said. Spot traders said that the merchants required the transfer of Chilean copper to the United States to make up for possible supply shortages in Assarco. Three-month period Zinc fell by US$6 to 1,204, and the three-month lead reported US$820, a drop of US$30. Teck Cominco’s workers’ representatives at the UK’s Trail lead-zinc smelter in British Columbia said that negotiations with the company have not progressed smoothly and they are considering declaring a strike. Three-month nickel fell by 525 US dollars to 14,225, three-month tin closed at 175 US dollars to 6,900, the last time it touched that level was in March 2004: