LME Market: The London Metal Exchange (LME) base metal Tuesday open-ended outcry trade continued to rebound from yesterday's decline, with most contracts closing higher. Traders said that the overall upward trend led by copper is mainly due to technical buying in dim light conditions. Pushed by short-covering and short covering. "Many market participants are taking a stand on the sidelines - this is also the reason for the decline in open interest. Investors were hit earlier this month and are currently on a wait-and-see basis," a trader said. Analysts said that the trading is not very popular, and this situation is expected to continue in the short term. Man Metals analyst Mel, said, "As the US election is about to take place, and crude oil prices remain high, despite the metal prices softened yesterday However, we expect there will not be much room for price increases for the next week." The dollar hit an eight-month low against the euro on Tuesday, with the euro rising to $1.2841 against the dollar and later falling to 1.2750, but this trend has limited impact. Bache Financial Analyst McMillan said that "there is a slight short-covering buying on the floor, although the US dollar has fallen slightly, but before it has a big wave, we don't think that the dollar trend is a major factor." Meyer said, " Energy price The prospect of slowing economic growth has been the central theme for these days. Metal prices may continue to fall back for some time before this situation is relieved." Record oil prices continue to cast a dark shadow on industrial metals. McMillan said : "High oil prices are causing concern. The market began to realize that in the winter of the northern hemisphere winter, there is no way to increase crude oil production in the short term. The market is concerned about its impact on economic growth and inflation." ** Most of the other metals closed higher. ** Three-month zinc climbed $24 to $1,025 per tonne. Sparse three-month lead reported $858/859, up $6. Three-month tin rose $100 to 8,975/9,000 per tonne. The three-month nickel fell against the trend, but ended up narrowing the decline to US$13,300, which only fell US$50. LME Copper: The three-month copper closed at US$2,792 per ton, which was a US$42 increase from the closing level of Monday's consolidated trading. LME Aluminium: Three-month aluminum also moved higher, but the upper range was limited by resistance at $1,750 and ended at that level, up $10 from Monday's closing level. COMEX Copper: Copper futures on the New York Mercantile Exchange (COMEX) were lightly traded on Tuesday. Slightly higher in quiet, pull During the week, some traders said that there was no pressure from long positions. Indicator December copper closed up 0.50 cents to $1.2815 per pound, intraday trading range was 1.2750 to 1.2930. Spot monthly October contract rose 0.65. Cents, to US$1.2865 per pound. Estimated volume is 11,000. Traders said no, the fundamentals of the market have not changed in the past month. One trader said, “Demand is still strong, stocks continue to decline, so from the basic On the surface, the market looks good."
Control Valve,Electric Temperature Regulating Valve,Electric Temperature Control Valve
Chongqing Xingjida Import and Export Trade Co., Ltd. , https://www.xjdvalve.com