August 2 AMT Review LME Base Metals

The following is a daily review of base metals published on August 2 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Copper: It continued to maintain its good performance on that day. It is recommended to buy on the dips afterwards. Aluminium: Once again, it gained support. It once rose to 1890 US dollars and closed at 1885 US dollars. However, we must wait and see if the current price can attract technical buying. Lead: The performance was quite calm on that day. Most trading hours remained around 870 US dollars, and then the next test support level was 860 US dollars. Zinc: In early morning, it was boosted by technical short covering and rose to a high of 1,300 U.S. dollars. It is expected that the market outlook will remain at the range of 1280-1300 USD. Tin: The same day, it was stabilized by CTA buying and short covering activities. It is expected that the market outlook will further increase. Nickel: Under certain pressure on the day, the overall market conditions are relatively calm.