Reuters Review (1-20)

LME Market: The London Metal Exchange (LME) base metal prices mixed at the close of trading on Thursday and the market conditions were light. Investors waited for the market to break out of the range volatility before establishing new positions. LME trader said: "Investors wait to establish a position at a predetermined price. At present, they have no intention of trading. Only breaking the range volatility can attract more volume." Three-month zinc closed at $1,272/ton, down 14 and hit more than $1,288 on Wednesday. Annual highs, but it is still likely to rise above $1,300. In a recent Reuters Metals Price Survey, the median price for spot LNG for 2005 LME was 53.5 cents per pound, which is 12.6 higher than the 2004 average spot price. %. Spot zinc was quoted at about $1,262 per ton or 57.2 cents per pound on Thursday afternoon. Traders said base metals did not succumb to pressure from a stronger US dollar. He said the market is in a stalemate, and foreign exchange market fluctuations have little effect. A trader said, "The dollar has caused metal prices to stop, trading is very light, and the price range has fluctuated." The euro was quoted at $1.2958 against the US dollar and earlier this Thursday hit a two-month low of 1.2924. British businessman Barclays Capital International Report “We believe that aluminum will continue its upward trend due to fundamental factors and the favorable macro environment,” the report said. The report also stated, “We believe (period of copper) will test another US$3,175 in the near term as many refineries are downed and overstocked. Demand continued to be strong at a very low level." Three-month nickel fell $125 to 14,275. Three-month nickel reported $7,800, up 300, and three-month lead held steady at $906/07. LME Copper: Three-month copper rose 7 US dollars to 3,040. LME Aluminium: Three-month aluminum closed at $1,839, down 1. COMEX Copper: Copper futures on the New York Mercantile Exchange (COMEX) closed modestly higher on Thursday, regaining its early losses. Traders said that the US dollar is below expectations. After the release of regional manufacturing data, the copper took the opportunity to rebound. Even though the Federal Reserve Bank of Philadelphia announced that the manufacturing index fell to an 18-month low in January, copper traders still responded to the dollar’s ​​decline and participated in the copper market dips. The trader said, “Everyone is following the fluctuation of the U.S. dollar because there are no other factors to follow.” The March contract rose 0.55 cents to end at a daily high of 1.4150 pounds, and the intraday low was 1.3970. Spot January contract closed up 0.75 cents at $1.4580 per pound. The rest of the month's contract ended 0.35 to 0.55 cents higher. The final volume was estimated at 9,000, down from the previous day's 11,227. Traders said. , London and New York's short-term traders follow the euro's volatility and action, but large-scale hedge (hedge) funds based on fundamental factors buy copper.

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