August 8 AMT Comments on LME Base Metals

The following is a daily review of base metals published on August 8 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Bronze: The performance was calm on that day and it is expected that the market will continue to maintain its range. Aluminum: It fell to $1,855 on that day, then rebounded due to buying by traders, but the closing price still fell, closing at $1,873. Lead: There was a downtrend on that day and there was no effective rebound from the $840 level throughout the day. It closed below $840 and fell to the support level of $820/5. Zinc: Compared to the relatively stable performance of aluminum and copper futures, the zinc price showed a weak day. However, it is expected that the market outlook will maintain the range of fluctuations. Tin: It fell again slightly on that day and closed at $7030-50, but it still maintained a range of fluctuations. Nickel: It was boosted by short-covering on the same day, but it remained within the range of recent fluctuations. The outlook remains uncertain.