Reuters commentary (June 14)

The LME market, traders, said that the London Metal Exchange (LME) base metals mostly weakened on Tuesday, as the dollar's strength factor outweighed supply constraints. A trader said, "As the dollar strengthened, there have been some profit taking. However, due to general tensions in the fundamentals, the decline is limited. ""We expect prices to remain stable in the next few trading days, although a stronger US dollar may prompt more selling." The dollar hit a nine-month high against the euro, weak The U.S. economic data can not make the market change the view of the Federal Reserve Board (FED) will continue to raise interest rates. Adams of Basemetals.com stated in the daily report: "The summer off season is approaching, the U.S. dollar is strengthening, and the supply will soon exceed demand. Together, it suggests that the bull market has been damaged. However, the injured cattle are still aggressive. "The market is still quite sensitive to better economic data, production disruptions, regional shortages, or the recent strong reversal of the US dollar," he said. The monthly copper price weakened in the intra-period trade, and the spot/three-month inverse price gap was estimated to be about 220 US dollars. The intra-day trading closing time was 3,254 US dollars per ton, which was 23 US dollars lower than the composite transaction closing on Monday evening. The strong earthquake that occurred caused the price to shrink in the intraday decline. Zinc was generally stable, although stocks in the exchanges increased again. Three-month zinc traded at around $1,260/ton in the ring trade, down $18 from the late-night composite trade on Monday. LME Zinc stocks increased by 59,375 tons to 623,050, a four-and-a-half month high; the past three trading days have increased 103,325 tons, an increase of 19.8%. Traders said that the increase in inventory reflects the metal as a collateral for financing. The spot price/three-month spread was a positive spread of $12.50, which was a reverse price spread of $18.00 earlier this month. Three-month aluminum rose slightly by $8 to 1,710 per ton. Barclays Capital analyst Sternba said in the report. ,"... We expect aluminum prices to hold on to the basic support at 1,700, as higher investment costs such as alumina and electricity are required; at the same time, we also expect that the Chinese government's measures will further restrain China's aluminum exports." Three-month nickel It fell by $255 to $16,000; lead fell by $3 to 966; period tin was unchanged at 7,600. COMEX Copper – Copper futures exchange (COMEX) closed lower on Tuesday as the US dollar advanced to a nine-month high against the euro. But metal dealers say that most Short-term speculators and dealers. Some traders said they believe that after the copper price rose to a 16-year high last week, the market only experienced a correctional sell-off, rather than a large-scale escape. However, it closed lower for the second consecutive day in the copper market. After that, others held a more cautious view. The July copper closed at 1.5265 US dollars per pound, down 1.30 cents. The trading range was 1.53-1.5510 US dollars. The spot June copper fell by 3.05 cents to 1.5845 US dollars per pound. The various long-month contracts contracted 0.90 to close at 2.80 cents. The COMEX copper futures volume was estimated at 23,000, with yesterday's volume of 22,086.

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