Prospects for LME copper and aluminum futures: Copper market aluminum trading light market cautious

LME composite trading closing support resistance 14th RSI 10th MA 30th MA three-month copper 3563.00 * 3500 * 3600 * 76 * 3554 * 3419 three-month aluminum 1873.00 * 1840 * 1900 * 59 * 1874 * 1815 London 8 On the 9th of the month, the London Metal Exchange (LME) copper futures held steady in early Tuesday in Europe, and the market conditions were light. Traders said that supply shortages still provide support for the market, but rising inventories and technical factors make investors uneasy. There may be some fund buying, but there is actually no trading," said a Japanese trader. "The copper is still well supported. Even though the inverse price gap is slightly narrower, the aluminum future seems a bit heavy and there may be some liquidation. ,” the trader said. The tight supply and low inventory recently supported copper buying, and the strike in the United States further consolidated this support. Asarco, the US subsidiary of Grupo Mexico, the third largest copper producer in the world The strike has lasted for five weeks, which has already reduced the previously estimated annual output of 180,000 tons by half. During the 0650 GMT, the three-month copper was at 3,566/570 US dollars per ton, higher than the closing price of 3,563 US dollars on Monday. period Aluminum reported 1,870/874, higher than Monday's closing price of $1,873.