Reuters Review (12-01)

LME copper: copper closed higher on Wednesday, before the US dollar continued to decline against major currencies; but the profit-taking of funds limited the increase in copper. Traders said that copper trading volume and usual time, the price is also in the recent range. However, due to the majority of basic metals basic Face is still strong, analysts expect copper will hit a new high, may be achieved after the arrival of the new year. Bache Financial analysts said, "The market will generally move depending on the trend of copper." "As long as the fall of copper can get quite good support Although the distortion of the recent month's price spread has slightly eased, it still exists. I think the price will rise and the spread will further expand. "The three-month copper evening comprehensive trade closed at $3,115 per ton, up $20. The high of 3,127. Copper hit a near-16-year high of US$3,175 per tonne in mid-October, but fell sharply thereafter. The recent steady upward movement has been blocked in the 3,140 zone for several times. The base metal barely cares about the U.S. better than expected. The report of the manufacturing industry, the report should have benefited the market. On the contrary, the market is paying more attention to the US dollar exchange rate. Earlier, the US dollar hit a record low against the euro, and it also reached a 12-year low against the pound. . LME Aluminum: Three-month aluminum closed down 8 US dollars at 1,832 yuan per ton. COMEX Copper: Copper prices closed slightly higher on Wednesday, with local traders and some speculators and funds buying at a low price yesterday through a modest decline in the market yesterday. Market participants seem to disagree, and some remain cautious. Copper prices are approaching multi-year highs, while others are encouraged by the optimistic metal fundamentals. Trading in the more active March period closed up approximately 0.55 cents at $1.4395 per pound. The intraday trading range was 1.4180 to 1.4450. The issue hit a seven-week high on Monday around 1.4520. The spot December contract rose by 2.45 cents to close at $1.4675. The rest of the month's contract ended higher by 0.40-0.50 cents. The estimated trading volume was approximately 12,000. This was lower than Tuesday's 14,553. As of Tuesday, the open interest was 97,637, an increase of 939. Source: China International Futures Brokerage Co., Ltd.

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