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On July 27, LME metals were reviewed

by:Deyuan      2020-12-23
London, July 27, London metal exchange ( LME) Copper futures ended down on Wednesday, the federal reserve ( 美联储) Interest rate decisions before the dollar down. Supply concerns on the market, also for Peru refinery ramping up production.

London time on July 27, 16:00 ( Beijing time on July 28, 00:00) 1, the three-month copper fall. 62%, to $4850 per ton, the lowest since July 12, erase the previous trading day 0. Gain of 6%.

thinly traded today, because of the summer belongs to the seasonal off-season, and the federal reserve will be announced at a later time interest rate decisions, widely expect the fed will stay put.

the Wall Street journal, the dollar index in this market closing up 0. 27%. For foreign currency holders, the rising dollar means goods more expensive in dollars.

national Australia bank ( NAB) Copper prices in the fourth quarter is expected to average $4890.

Chilean copper ShangAn method and stark ( Antofagasta) In January, according to the total output of copper will be close to 710000 - released 740000 tons of forecast range, due to the global market oversupply situation there were signs of weakening.

copper output of 166200 tons, in the second quarter from the first quarter growth 5. 8% as LosPelambres, Zaldivar and Antucoya ore production.

other base metals rise and fall.

the three-month aluminum ended flat at $1592 per ton, it touched on June 13, the lowest since 1588 dollars.

Chinese smelters to bring the excess supply of situation is still worrying, but consumers buying boost phase of aluminum from the lows.

FuXiao says, is the director of boc international commodity strategy & other; In the second half of the aluminum consumption demand will get support, but on the other hand, China's aluminium supply has also been increased. ”

” We expect, affected by the price picks up, announced the closure of smelters to about a quarter of a return to work before new to again production capacity will help improve the level enough to meet demand, so we view of aluminum is neutral. ”

the three-month tin rose 0. 14%, to $17700 a tonne, helped by the LME stocks fell.

data show that registered stocks fell to only 3465 tons, from February hit nearly 3200 tons near the lows, when inventories for the lowest since the end of 2008.

0 three-month nickel increases. 05% to $10355 per ton.

the three-month zinc in 2. 4%, to $2176, for since July 14, the lowest price.

the three-month lead down 2. 4% to close at the three week low of $1799 per ton.
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