LME Comprehensive Trading Close Support Position Resistance 14th RSI 10th MA 30th MA
Three-month copper 3685 * 3650 * 3726 * 62 * 3592 * 3603
Three-month aluminum 1814 * 1750 * 1845 * 36 * 1833 * 1872
LOS ANGELES, Sept. 21 news: The London Metal Exchange (LME) copper may have a slight respite on Wednesday, benefiting from buying funds from the fund the previous day, and copper prices hit a record high earlier this month. The Rita threatened the Gulf of Mexico, triggering doubts about energy supply, prompting the fund to invest funds into the commodity market.
Copper has risen by 6% since the end of last week. Some people think that the current market may be overdone. Others said that such high volatility and sparse trading volume may trigger further price increases for copper.
Some people pointed out that the recent inventory of copper deposited in the LME seems to be absent. The recent price gap between the contract and the recent month is not close to the recent high, which means that copper stocks have less return.
At 0710 GMT, the three-month copper was at $3,671/73, down $14 from Tuesday's composite trading session.
Aluminum failed to match the copper's gains during the previous trading day, as speculators are far from aluminum.
Three-month aluminum was quoted at $1,815/1,819 a tonne, unchanged from the previous day's composite trading closing at 1,814.
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