Reuters Review (9-27)

Reuters commentary (9-27) LME market: Base metals closed higher on open outcry trading Monday. LME Copper: Traders and analysts said investors tried to take the lead before copper could hit key resistance. "The fund today has some buying interest in copper, pulling copper prices all the way through the $2,960 but trading The sell-off of the dealers was under pressure from the highs. "A trader pointed out." Copper needs to go higher, this week it is expected to rise to 3,000 US dollars." He said. Three-month copper closed up 43 US dollars at 2,953 yuan per ton. Earlier in the session, it hit a five-month high of 2,962.50. "I expect the market to show an upward trend this week. I don't think that copper has risen to a cyclical high. I think copper will rise to a high in the fourth quarter of this year. "Pru-Bache Metals analyst McMillan said that McMillan said that the possible production risks of copper and nickel are worrying. He said that the threat of strikes by Chile's state-owned copper company Codelco Norte and the Peruvian Copper Company of the South (SPCC) The increase in cost has led to dissatisfaction. Earlier this month, the workers went on strike and warned that they will strike again. There is also dispute in the company's Asarco. LME Aluminium: Three-month aluminum rose to 1,812.50, up 17.50. "I think the market generally thinks Aluminum rises The trend is coming to an end. "Mike Milano pointed out. COMEX Copper: Copper futures rose strongly on Monday, with fund and trade buying pushing up the price. Traders said that the majority of the early moves were driven by technical factors, but strong fundamentals continued to boost copper prices. US new home sales in August grew by 9.4%, more than analysts expected, and a larger monthly increase over the past four years, which led to a rise in copper. After the unexpected jump in new home sales, copper prices hit a new contract high, and with buying Accelerated and further higher. Indicators December copper rose 2.05 cents to close at 1.3780 US dollars per pound, intraday between 1.3540 to 1.3810 range, which is a record high. COMEX spot September rose about 2.35 cents to six months The new high was $1.3855. Most of the other monthly contracts reached a new contract high, closing at a range of 0.30-2.15 cents. The estimated trading volume was only 9,000, compared with 7,000 last Friday.

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