Reuters commentary (June 15)

LME Market-LME base metal prices closed higher on Wednesday, and copper prices rose due to tight supply, which provided support for the overall metal trend. Technical tensions boosted copper upside, indicator spot/three months reverse spread widened. US$10 to 235 per tonne is higher for eight and a half years. A trader said, “There was a technical buying in the market, and then the US dollar fell slightly against the euro.” “If the copper price continues to rise in the Asian market tomorrow, then there is a possibility that it will challenge The $3,300 mark has even risen further. However, the copper price is still likely to fall again. "Three-month copper closed at $3,287 per ton, which was $37 more than the closing price of the composite transaction on Tuesday evening. Traders said that the tightness of the LME copper spread continued to The September contract, while the exchange's copper inventories was at a 31-year low. However, the copper price has attempted to exceed the 3,300 US dollar mark since last Friday, but it is not enough to do much. On April 12, the copper price hit a record high of 3,336 US dollars. Point. Mine supply is increasing, which will push the supply of refined copper to a surplus at a certain time, but there is no potential short-selling power. LME zinc inventories increased by 350 tons today after a sharp increase in three days, while zinc prices are The day's $1,260 rebounded and closed at 1,292. The aluminum continuation started at $1,700 and ended at $25 to $1,735. Nickel gained $195 to 16,195, lead reported at $967/968, yesterday at 966. 7,590 Yesterday was 7,600. COMEX Copper – New York Mercantile Exchange (COMEX) copper remained firm throughout the day on Wednesday, gaining gains in late trade, supported by falling US dollar and US data from Li Du Tong, but traders also It pointed out that the market still maintained the range volatility. The July copper closed at $1.5490 a pound, up 2.25 cents. The trading range was 1.5375-1.5540 US dollars. The spot June copper rose 2.25 cents to 1.6070 US dollars per pound. Each month contract The closing price of COMEX copper was estimated to be 17,000 units compared with the final trading volume of 0.75 to 2.05 cents. The trading volume yesterday was 23,690.

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