December 5 AMT Review of LME Base Metals
2024-05-22 22:06:03
The following is a metal trading daily review issued on December 5 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME).
Copper: The surface of copper was calm at the beginning of this week and it is still recommended to buy on a bargain.
Aluminum: Futures aluminum performed strong again on the day and closed at an intraday high of $22,221/ton. It is expected that higher sales will attract more buying on the 6th.
Lead: Lead futures performed strongly today and broke through the target level of US$1,100/ton, which is expected to continue to rise.
Zinc: Zinc once again rose on the back of good fund buying and set a new record high. It is expected that the zinc price will be revised in the morning on the 6th, but this will be short-lived and the zinc market will continue to rise.
Tin: Tin increased sharply again on the same day, and the transaction volume was high. However, as the market is still weak, the tin market is worrying.
Nickel: More short covering helped nickel prices rise to $13,600/tonne. Nickel is expected to continue to rise during the period and then decline.
Copper: The surface of copper was calm at the beginning of this week and it is still recommended to buy on a bargain.
Aluminum: Futures aluminum performed strong again on the day and closed at an intraday high of $22,221/ton. It is expected that higher sales will attract more buying on the 6th.
Lead: Lead futures performed strongly today and broke through the target level of US$1,100/ton, which is expected to continue to rise.
Zinc: Zinc once again rose on the back of good fund buying and set a new record high. It is expected that the zinc price will be revised in the morning on the 6th, but this will be short-lived and the zinc market will continue to rise.
Tin: Tin increased sharply again on the same day, and the transaction volume was high. However, as the market is still weak, the tin market is worrying.
Nickel: More short covering helped nickel prices rise to $13,600/tonne. Nickel is expected to continue to rise during the period and then decline.
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