The LME market - London Metal Exchange (LME) copper jumped a few minutes before the close on Wednesday, while nickel rose 4% flat this year's high, driven by fund buying. The three-month copper futures closed up 50 US dollars. , to 3,285 US dollars per ton, close to the record high of 3,308 US dollars last week. Three-month nickel rose by 550 US dollars in the minutes before the close, to close at 16,400 US dollars, flat last month's high, also for the 2004 10 A high level since the month. A trader said: "There were some fund purchases before the close, which was a bit surprising, which triggered some short covering activities." Standard Chartered Bank analyst Baha said that this wave of unexpected gains It may push the base metals back to the cyclical highs. "But this remains to be further observed. This trend may have false components." He said, "The volume is still quite low." British trader Barclays Capital International analyst Steby Said that should not be surprised at such fluctuations. "When the stock level is extremely low, this situation is likely to happen ... The market reaction is quite dramatic." She said. "There are still a lot of market people want to buy - there is Consumers, but also investors." Upgrading several mining stocks in investment banks After the share price target, the stocks were stronger. Traders believe that this week's metal consolidation trend is related to the turmoil of the US dollar. Due to the lack of important economic data, the US dollar fell into a narrow range. "If the dollar can weaken, then in the global economy Before signs of a further slowdown in activity surfaced, there may still be another wave of gains in metal prices." HSBC analyst Alan Williamson said in a report that three-month aluminum prices rose $15 to $1,950, but still It's well below the 10-year high of 2,016 in March. 2,016. COMEX copper - copper futures exchange on the New York Mercantile Exchange (COMEX) rose to a one-week high on Wednesday. The dollar's decline provides buyers with guidelines for trading and leads to a close before the close. Short-covering. A broker said, "The market is very uneasy and turbulent. Now it is a bit sloppy." He added that stop-loss orders were triggered and triggered buying in the late session. May-month copper closed up 2.40 cents per pound. $1.5085. The daily high is $1.5085, which is also the highest level since last Thursday. The daily low is $1.4765. The spot April is up about 2.60 cents to $1.5225. The Other period is about 0.25 to 2.40 higher. Ine.COMEX copper volume was estimated at 19,00 0, Tuesday, 16,615. On Tuesday, the open interest decreased by 232 to 119,690.
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