London, August 30th: The London Metal Exchange (LME) metal mixed mixed on Tuesday, and some traders are concerned about the damage that the hurricane may have caused to the New Orleans warehouse in the United States. Speculative buying after the selling pressure in the morning The price of copper on the London Metal Exchange was pushed to an uptrend and higher on the day. The three-month copper price of LME may fall to 3,612.50 US dollars/ton before the intra-day trading, but after the LME copper stock decreased by 675 tons to 64,250 tons, the price rebounded to 3,647.50 US dollars/ton. In addition, traders said that it is difficult for copper prices to retest the record highs recently hit, which poses restrictions on other markets. “Market turnover is scarce and very quiet – this week coincided with holiday breaks, some were still on holiday, and the market was not Too many reasons fluctuate," said one trader. "Copper prices dominate the volatility of base metal prices. Lead, zinc, and most other metals are just following the trend of copper prices." He said. Zinc is more likely to be affected by Hurricane Katie. A metal influenced by Katrina. Hurricane Katrina slammed off the coast of the Gulf of Mexico and flew directly to Louisiana, sweeping Mississippi, Alabama and Tennessee. LME data showed New Orleans (New Orleans) Copper stocks were 1,100 tons, aluminum stocks were 1,200 tons, and zinc stocks were 248,825 tons. LME global zinc stocks totaled 561,950 tons. "LME has about 24 warehouses in New Orleans and these warehouses may be affected. Therefore, We are closely monitoring the development of the situation,†said an LME spokesperson. However, the three-month zinc trend was flat and was reported at $1,359/ton in late trade, which was $4 higher than at the end of the previous week. Copper received a spread to extend its support and repeatedly rose to 3 , 6 The midline resistance near 50, but many attempts to rush for 3,670 at the end of the day failed to return. The three-month copper futures reported at 3,645 US dollars, up 45 dollars from last Friday. Spot/three-month copper inverse price difference About 245. Three-month aluminum fell for the most part, but technical support near 1,860 recovered its gains to close at 1,873, and last Friday reported 1,892.50. Three-month lead closed higher by one US dollar at US$866 The three-month nickel closed down 50 US dollars at 14,775, while the three-month tin reported at 6,980/7,000, and last Friday reported 7,050. The market has been concerned about the labor negotiations between Canada and Inco Nickel Co., Ltd. on September 15. A trader said: "If a strike occurs, it is clear that nickel prices may be in a strong position." London, August 30th: The London Metal Exchange (LME) metal mixed on Tuesday, and some traders may be against the hurricanes. Losses caused by the warehouses in New Orleans, USA were concerned. Following speculative selling pressure in the morning, speculative buying prompted the London Metal Exchange copper futures price to hit a high point on the day. The three-month copper price of LME may fall to 3,612.50 US dollars/ton before the intra-day trading, but after the LME copper stock decreased by 675 tons to 64,250 tons, the price rebounded to 3,647.50 US dollars/ton. In addition, traders said that it is difficult for copper prices to retest the record highs recently hit, which poses restrictions on other markets. “Market turnover is scarce and very quiet – this week coincided with holiday breaks, some were still on holiday, and the market was not Too many reasons fluctuate," said one trader. "Copper prices dominate the volatility of base metal prices. Lead, zinc, and most other metals are just following the trend of copper prices." He said. Zinc is more likely to be affected by Hurricane Katie. A metal influenced by Katrina. Hurricane Katrina slammed off the coast of the Gulf of Mexico and flew directly to Louisiana, sweeping Mississippi, Alabama and Tennessee. LME data showed New Orleans (New Orleans) Copper stocks were 1,100 tons, aluminum stocks were 1,200 tons, and zinc stocks were 248,825 tons. LME global zinc stocks totaled 561,950 tons. "LME has about 24 warehouses in New Orleans and these warehouses may be affected. Therefore, We are closely monitoring the development of the situation,†said an LME spokesperson. However, the three-month zinc trend was flat and was reported at $1,359/ton in late trade, which was $4 higher than at the end of the previous week. Copper received a spread to extend its support and repeatedly rose to 3 , 6 The midline resistance near 50, but many attempts to rush for 3,670 at the end of the day failed to return. The three-month copper futures reported at 3,645 US dollars, up 45 dollars from last Friday. Spot/three-month copper inverse price difference About 245. Three-month aluminum fell for the most part, but technical support near 1,860 recovered its gains to close at 1,873, and last Friday reported 1,892.50. Three-month lead closed higher by one US dollar at US$866 The three-month nickel closed down 50 US dollars at 14,775, while the three-month tin reported at 6,980/7,000 last Friday at 7,050. The market has been concerned about the labor negotiations between Canada and Inco Nickel Co., Ltd. on September 15. A trader said: "If there is a strike, it is clear that nickel prices may be strong."
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