Reuters Review (11-16)

LME Market: The London Metal Exchange (LME) base metals mostly closed down on Tuesday, traders said that the technical selling in Asian copper market has eroded the London and New York markets. "London and New York were affected by the emergence of Asian market selling, but the decline was affected by Limited, due to tight supply and stable demand and other fundamental factors, is still the center of attention of the market, "a trader said. British businessman Barclays Capital International in a research report, said, "All the basic metal market is a supply shortage, we expect short-term Metal prices will still be well supported due to strong seasonal demand, declining stocks from already low levels, and continued strong demand in China." "During the period, zinc is thriving, and zinc prices have huge potential for growth due to their consistently poor performance. ""But its market situation is beginning to improve significantly as inventories continue to decline and China may become a net importer of refined zinc. Three-month zinc climbed by $6 to 1,125. Divided from the earlier low of 1,097.50. Nickel fell 250 US dollars to 14,250. It recovered from an earlier low of 13,900. Three-month lead fell by 12 US dollars to 942. Three-month tin fell by 125 US dollars to 9,000. LME Copper: Three-month copper futures $2,944 per ton, low On Monday evening, the composite trading price closed at 3,004, but it fell off the earlier hitting low of 2,920.50. The spot/three-month reverse spread spread from $105 to $125. LME Aluminium: Three-month aluminum fell by $5 to 1,793. COMEX Copper: Copper futures on the New York Mercantile Exchange (COMEX) closed lower on Tuesday. As the fund follows the Asian and London market declines, some positions have been withdrawn; after the data showed that the US producer price index (PPI) unexpectedly rose, the future copper further expanded. One trader said, “At the beginning of the session, there were rumors that China released some of its inventories. This ignited market sentiment.” December copper closed down 1.85 cents at $1.3690 per pound. Spot copper fell 1.75 in November. Cents, which closed at $1.4190, fell about 1.75 to 2.25 cents in other months. The estimated volume was 12,000. Brokers said investors withdrew from the December contract and extended the period to about March. The price of the contract, which shows that the US PPI rose by 1.7% in October, further exacerbated the downtrend in the copper market. Analysts said that this data supports the view of the Federal Reserve’s continued interest rate hike.