The following is a daily review of metals trading published on October 17 by Amalgamated Metal Trading Limited (AMT), a leading brokerage firm of the London Metal Exchange (LME).
Copper: The impact of the Refco company scandal still exists, but the price of copper remains steady.
Aluminium: The impact of fund buying today has been exceptionally strong. It is expected that there will be more technical buying tomorrow.
Lead: Today's rise again, the price difference is significantly reduced, and it is expected that this slight increase will be maintained in the next few days.
Zinc: Following the rising trend of copper and aluminum, it is expected to test the $1550 position.
Tin: A sharp rise in midday, but quickly fell back to the close, and we still need to wait and see the price trend.
Nickel: A small amount of short covering has caused prices to rise and is currently subject to resistance.
Copper: The impact of the Refco company scandal still exists, but the price of copper remains steady.
Aluminium: The impact of fund buying today has been exceptionally strong. It is expected that there will be more technical buying tomorrow.
Lead: Today's rise again, the price difference is significantly reduced, and it is expected that this slight increase will be maintained in the next few days.
Zinc: Following the rising trend of copper and aluminum, it is expected to test the $1550 position.
Tin: A sharp rise in midday, but quickly fell back to the close, and we still need to wait and see the price trend.
Nickel: A small amount of short covering has caused prices to rise and is currently subject to resistance.
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