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On October 18 the LME metals were reviewed

by:Deyuan      2020-12-23
On October 18, news of London, London metal exchange ( LME) Base metals futures most rose on Tuesday, helped by China credit data was strong and the dollar's decline; Period, tin went up by major producer production in Burma.

the People's Bank of China, according to data released new yuan loans in September 1 in China. 22 trillion yuan, which indicates that the central bank will maintain loose monetary policy to support growth.

analysts believe that China's credit data better than expected, new yuan loans in June to the highest, boost market sentiment.

the dollar fell from a seven-month high, also support base metal prices.

London time on October 18 16:00 ( Beijing time on October 19 00:00) Three-month copper rose 0. 1%, to $4681 per ton, the previous trading day unchanged.

however, some analysts believe that Chinese imports of copper concentrate, copper is still very abundant supply, prices will be managed after the LME varieties of other metals.

the three-month zinc rose 0. 5%, to $2285 a tonne, off the day's high of $2313 per ton.

zinc is the best metal LME performance this year, has climbed 42%, because of mine closure sparked fears of supply shortages.

, analysts said prices pared gains, dragged off the day's high in late stage of zinc.

tin is one of the best performing metal on Tuesday. The three-month tin rose 1%, at hk $19625 per ton.

Burma's senior officials, mining in the decline of the main mine production, the next two to three years mine reserves will be exhausted. Burma is the main supplier of tin ore in China.

the three-month nickel closed up 1. 2%, to $10410 per ton. Inco research organisation ( INSG) Said on Tuesday, the first eight months of this year the global nickel supply shortage of 47300 tons, because of strong demand from China, and the Philippines on the mine environmental protection.

anz bank ( ANZ) Analysts DanielHynes, according to the demand environment would have improved significantly in 2016.

the worst three-month aluminum performance, fell 1. 1% to hk $1642 per ton.

the three-month lead in 0. 8%, to $1973 per ton, both hitting its lowest level since September 28.
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