Reuters Review (9-23)

Reuters commentary (9-23) LME market: The base metals mostly closed higher on Thursday and were driven by the fund’s technical buying. One trader said: “Basically, it is still the technical operation of the fund, and most operations seem to focus On the aluminum, "" LME volume initially flattened in the early afternoon, but the next active buying of the New York Mercantile Exchange (COMEX), coupled with the rise in gold prices, motivated the emergence of further buying in this market. Disk. LME Copper: The three-month copper overnight market closed at $2,932/ton, and closed at 2,915 on Wednesday. Traders expected resistance to be at 2,940/50, followed by 2,970/80. Man Financial analyst Meyer expects, In light of the overbought situation of copper and aluminum futures, it is expected that further profit taking will take place. Analysts of Barclays Capital International stated in the report: "Aluminium will need to be sorted out shortly before the potential aluminum price hits a high of 1,850 hit in April. Gain. "LME Aluminium: Three-month aluminum closed at $1,814, up $4, and encountered strong resistance at 1,815/20. COMEX Copper: Copper fell sharply on Thursday, reversing the sharp uptrend on several previous trading days. It was even more on Wednesday. Rose to a six-month high. Traders said Thursday's lower The downtrend was only corrected by the profit-taking pressure, which was a correction for the recent uptrend. The benchmark December copper closed down 1.15 cents to $1.3580 per pound, fluctuating between $1.3470-1.37 intraday. COMEX spot copper fell in September. 1.20 cents to close at $1.3680. Other monthly contracts fell 1.90 to 0.75 cents. Estimated volume was 14,000, roughly the same as Wednesday's 13,330. As of Wednesday, the open interest has jumped by 3,108 to 88,739 mouths.

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