LME base metals mostly closed down three months at $1814 per ton

The base metals of the London Metal Exchange mostly closed lower on the 13th, with three-month aluminum closing at $1,814 per ton, up $9 from the end of the 12th, and three-month copper fell by $5 to 3333 per ton on the 13th. The following is the July 14 LME Metal Morning Post. I. July 13 LME closing quotation unit: US dollar / ton variety opened higher lower closing volume trading positions and increase and decrease inventory and increase or decrease of copper 3365 3378 3325 3333 46092 206370-2313 27775-1000 tin 7050 7090 6750 6900 4726 14065 +540 3665+115 Lead 845 845 820 825 16631 59082-144 53800+1075 Zinc 1208 1215 1197 1205 51034 119254+94 602350-4550 Aluminum 1817 1827 1810 1814 137919 438040+5062 530375+5650 Nickel 14700 14750 14175 14250 9634 41360-698 6816+72 II. LME closing commentary: On July 14th, comprehensive foreign news reports, the London Metal Exchange (LME) base metals mostly closed lower on the 13th, but aluminum was boosted by fund buying and thriving, a trader said, Aluminium jumped more than 5% to about two-and-a-half month highs in the past few days as one U.S. fund bought short positions and bought up to 10,000 contracts. This led to a large purchase of aluminum. Three-month aluminum closed at $1,814 per ton, up $9 from the end of the 12th. Another trader said that the aluminum boom seems to be attributed to the establishment of a new site, aluminum resistance has risen to 1,830 from 1,820 US dollars, and is expected to continue to break through at a rate of 10 US dollars until 1,850. It is expected that there will be more selling pressures near 1,850. Three-month copper oscillated back and forth above and below the flat on the 13th, trading between 3,320-3,387, and fell 5 US dollars to 3,333 per ton at the close. Copper was boosted after the late-night comprehensive trading ended, due to reports that the copper miner Asarco has been exposed to force majeure due to strike factors. Spot traders said that the merchants required the transfer of Chilean copper to the United States to make up for the shortage of supplies that Assarco may cause. Three-month zinc fell by US$6 to 1,204, and the three-month lead was reported at US$820, a decline of US$30. Worker representatives of Teck Cominco’s lead-zinc smelter in the British Columbia Trail said that negotiations with the company have not proceeded smoothly and they are considering the announcement of a strike. Three-month nickel fell by 525 US dollars to 14,225, three-month tin closed at 175 US dollars to 6,900, the last time it touched that level was in March 2004.