LME Market: Base metals weakened further on Monday afternoon, and almost all contracts ended in declines. Traders said that with the advent of the third Wednesday and the positive technical indicators closed on Friday, the market lacked follow-through buying. Both promoted the fall in metal prices. The market reacted weakly to the weakening of the US dollar, and the US dollar trend had pushed the Asian market to rise. "This is due to technical reasons, there is no real news, and the volume is not large," said a trader. The market for the third Wednesday of the trading period is particularly stressed by aluminum, but the impact on other metals is relatively small. LME copper: three-month copper fell shortly after the opening, due to still hold the $ 3,000 checkpoint. closing down 13 US dollars , reported 3,004, earlier hit a day high of 3,032.50. A trader said, "The market opened at the start of a new high, but because of the follow-up buying is difficult to sustain and return without success." Copper Futures / next day reverse spread from the pre-market trading At 7 U.S. dollars, it was extended to 15 U.S. dollars during intra-period trading. The spot/three-month reverse spread was firm, extending from 113 U.S. dollars on Friday to 117 U.S. dollars. LME Aluminum: Three-month aluminum fell by 15.50 U.S. dollars. 1,798, affected by factors such as earlier spot selling. The cargo/three-month spread has been positively spread by $1.50. Last Friday was the inverse spread by $2.50. One month ago, the reverse spread has reached $70. COMEX Copper: Copper fell on Monday, after copper prices hit a one-month high in overseas markets Here, participants in the London market locked in profits. However, traders said that the short-term decline in copper is to prepare for the resumption of the uptrend. Today's intraday turmoil, traders said that the copper is undergoing a short-term consolidation, the market to digest the cycle of copper A series of highs was created. One trader said that Monday’s sell-off was a profit-taking. He believes that the copper decline is “not worth mentioning†and expects copper prices to rise later this week. December copper fell 0.70. Points, reported at 1.3875 US dollars per pound, had hit a new high of 1.3970.12 month period once fell to a low of about 1.3750. Spot November copper rose by 0.85 cents to close at 1.4365. Other monthly periods fell about 0.55-0.90 The estimated transaction volume is 12,000, which is about the same as last Friday.
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