The LME market, base metals, closed higher on Thursday and oscillated within a narrow range in the afternoon trade. The speech of the US Federal Reserve Chairman (Fed) Greenspan did not basically stimulate the market. A trader said, " Trading has been very quiet, Greenspan has been talking, but the metal outlook is bleak. "The market has been trending down, traders' bargaining to provide support for the bargaining. The larger reverse spread prevented the copper from falling sharply. Another deal. According to the quotient, "the market is still prone to volatility, despite the scarcity of trading." "There is little fresh news of the fundamentals, and the (northern hemisphere) copper industry is entering a seasonal summer production cut-off period, so the impact of the US dollar exchange rate on the market has increased." He added Says. Copper: The three-month copper comprehensive transaction closed at $3,249 per ton, and the comprehensive transaction closed at 3,238 on Wednesday. Copper has fallen sharply since Monday. Lower stocks of LME and impending supply tightness support the reverse spread. Copper stocks fell again on Thursday to a new low in 31 years. The spot price/indicative price difference for three months was reported at 199/209 US dollars. On Wednesday, it narrowed from US$230 at the beginning of the week to US$190. “In view of the low inventory and the market is fluctuating. Copper again Yang will not be surprised, especially if speculators have been short in the past three trading days," said Adams, an analyst with Basemetals.com. Other analysts said that the LME copper trend is inconsistent with the fundamental situation, due to the emergence of supply Excess, and output will increase in the second half of this year. Earlier, the International Copper Research Organization (ICSG) stated that in 2005, the global refined copper market experienced a seasonally adjusted supply surplus of 25,000 tons, compared with a shortage of 364,000 tons in the same period of last year. "The copper market is rapidly becoming a market similar to 'toxic waste'. Don't approach it unless you are rich or you don't invade it." said Calyon, an analyst. Aluminum: Three-month aluminum Ton 1,735 US dollars, up 3 US dollars. COMEX Copper --- Copper futures contracts closed lower on Thursday, but two near-month contracts ended slightly higher. Following the 16-year high hit earlier this week, the market continued to consolidate. "The market remains in the trading zone. When July People were nervous when the contract fell below 1.54 U.S. dollars per pound. When the price of copper rose over $1.56 to $1.57, they were optimistic. As of now, the market has not been volatile in either direction. The July contract closed up 0.10 cents. At 1.5470 US dollars per pound, the intraday trading range was between 1.5310-1.5510 US dollars. The contract hit a 16-year high of 1.58 US dollars on Monday. The spot June contract rose 0.35 cents to 1.6020 US dollars, lower than the contract high hit on Monday. 1.62 US dollars, the level for the spot month contract has been higher since the end of 1988. The remaining contracts ended at a range of 0.05-0.70 cents. COMEX final volume was estimated at 15,000, Wednesday's official statistics was 20,698.