The London Metal Exchange (LME) base metal Tuesday openly exclaimed the end of the trade and continued to rebound from yesterday's decline, with most contracts closing higher. Traders said that the overall rise led by copper futures was mainly driven by technical buying and short covering in light market conditions. A trader said, "Many market participants are taking a stand on the sidelines - this is also the reason for the decline in open interest. Investors suffered heavy losses earlier this month and are currently on a wait-and-see approach." Analysts said that trading was Not very hot, this situation is expected to continue in the short term. Meir Metals analyst, said, "As the US election is about to take place, and crude oil prices remain at a high level, despite the metal prices softened yesterday, but we do not expect metal prices to rise much in the next week." Bache Financial analyst MacMillan said, "There was a slight short-covering buying on the floor, although the US dollar fell slightly, but we don't think that the trend of the US dollar is a major factor before it has a big wave." "The prospect of economic growth slowed by energy prices This is a central topic these days. Metal prices may continue to fall for some time before this condition is relieved." Record oil prices continue to cast a dark shadow on industrial metals. MacMillan said, "High oil prices are causing concern. The market began to realize that in the winter of the northern hemisphere, it is impossible to increase crude oil production in the short term. The market is concerned about its impact on economic growth and inflation." Three-month copper report US$2,792 per ton, up by US$42 over the closing level of Monday's consolidated trading. Three-month aluminum also moved higher, but the upper range was limited by resistance at $1,750, and it ended at that level, up $10 from Monday's closing level. Three-month zinc rose 24 US dollars to 1,025 US dollars per ton; the sparse three-month lead reported 858/859 US dollars, rose 6 US dollars; three-month tin rose 100 US dollars to 8,975/9,000 per ton; Month nickel fell against the trend, but ended in a reduction of the decline, reported 13,300 US dollars, only fell 50 US dollars.
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