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London, August 31st: Metals on the London Metal Exchange (LME) closed lower on Wednesday, traders said, the market is still considering the longer-term impact of Hurricanes Katrina, and the dollar/euro is weaker. The funds were raised to take profit. Markets ended with a month-end closing, profit-taking, and long-out clearing, which limited the price of copper, although the price was still quite close to the record high of $3,670 per ton. “The current price will not fall sharply. It is very difficult to realize a large-scale short-selling of all metals, but all actions are accumulating energy," a fund source said. Traders said that the supporting factor of metal is high oil prices, which have led speculators to buy into other In commodities, oil prices rebounded to a new high above $70 as traders feared a sharp drop in fuel supplies after the hurricane. Oil price increases usually slow down industrial production, so it will reduce demand for metals, but fund managers buy oil at the same time. , Also buy other goods. Economic activity may also be delayed due to hurricane attacks. New Orleans owns almost half of LME zinc stocks, and there is a smaller number of other metals, LME table It may take several days before a warehouse company can obtain a report on the loss. However, the Exchange stated that the metal inventory in the city can still be a good delivery of the LME contract. "Any interruption of transportation may be a price for zinc. The stock market's spot premium provides temporary support," Barclays Capital's broker said in a report. The three-month zinc futures were quoted at $1,369 per ton, up $10 from Tuesday's close. Three-month copper futures Significant decline due to stop-loss sell orders triggered. The period fell about 43 US dollars to close at 3,602, once again failed to test the high point. Despite the late fall of copper and stocks increased 1,425 tons, but the supply and demand is extremely tight and ease the market's decline Copper inventories have increased to a nine-month high of 65,675 tons. Since then, prices have begun to decline with the cancellation of warehouse receipts. Cancelling warehouse receipts often means that London’s copper inventories have increased by more than 6,000 tons. Other market participants will have long positions. The relocation to next Monday and the shortage of sellers in the copper market boosted the price of copper to RMB 3,626.50/tonne. Traders said that today's market lacked substantial news about the price of copper, so the USD/EUR became a fund profit-taking and led to copper. The main reason for the price drop is that spot/three-month copper inverse spread is about 250 US dollars, last week was slightly higher than 200 US dollars. Supply and demand tension is concentrated on about the beginning of September delivery deadline. Spot/September 6 delivery deadline is inverse The spread is 16/18 US dollars. Thanks to the disruption of shipments of cargo from the Mississippi River due to the hurricane. LME zinc futures rose to their highest level in five months. However, zinc fell at the end of the period and retreated. Some of the gains. Three-month aluminum fell by 18 US dollars to 1,855; three-month lead fell by 3 US dollars to 863; three-month tin fell by 10 US dollars to 6,970; three-month nickel rose by 75 US dollars. Reported 14,850.