Reuters Review (11-11)

LME Copper: Copper futures closed higher on Thursday boosted by short covering and Commodity Trading Advisor (CTA) buying. Man Financial analyst Meyer said, "The copper technology looks strong and LME stocks continue to decline, falling today. 70,000 tons below." "On the other hand, there are growing signs that just as many producers are preparing to increase supply, the pace of economic growth is slowing." "If the economic growth slows down, the situation will undoubtedly change. It will change the balance between supply and demand and push copper in recent months to a higher level. However, it is necessary to carefully study the U.S. economic data for this month before it is possible to conclude whether the above economic growth has changed. The COMEX copper futures of the New York Mercantile Exchange (COMEX) climbed higher as the stocks fell sharply again, inducing buyers to take advantage of the market's excessive sell-off on Wednesday. The three-month copper closed up 28 US dollars to 2,988 yuan/ton. The three-month inverse price spread narrowed to $115 from the intraday intraday price of $123. Copper futures hit a high of 3,007 since Oct. 13, but fell back on profit taking and trade selling pressure. LME Aluminum: Three-month aluminum fell $5 to 1,78 6. Trends fluctuating by technical factors fluctuate around 1,770-1,800. COMEX Copper: Copper closed higher on Thursday, reversing the previous day's decline, as buyers entered the market lower. Previous traders rushed to the Federal Reserve Board of Governors. The Fed (FED) announced a sell-off before the rate hike on Wednesday, hitting copper prices to a low point. Today, many traders believe that the sell-off of copper futures has been oversupply and that it has recovered, especially after the dollar has sent in gains. Indicator December copper closed higher 0.95 cents, at 1.3725 US dollars per pound. After hitting a one-month high of 1.3870, the daily low was 1.3590. The spot copper also rose 0.95 cents to close at 1.3925 US dollars in the spot month. Far-month period rose by about 1.00 cents. Trading volume was estimated at 17,000, which was higher than Wednesday's 15,231. Dealers said that strikes and stockpiles in Chile are fundamental factors such as lows since 1990, which are still favorable for copper prices, despite short-term fear of profit taking.

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