LME --- base metals are all higher except tin, demand and inventory are expected to maintain strong copper
On Monday, the London Metal Exchange (LME) base metal finished higher than tin, with copper rebounding in the late session and expanding its early gains. Traders said copper is expected to sustain a rebound from the low of around $3,500 last week.
A trader said that it has been far from the low point and the fund has been extending from the September period to October, so they are maintaining their positions.
Copper earlier this month hit a record high of $3,725 per ton, and then fell all the way to 3,510. Three-month copper closed at $3,605/ton in late-night trading and closed at 3,546 on Friday.
Another trader said that copper is rebounding, and it may be the limit to drop by around $200 from the record high.
Although the long-term and large-supply shortage of copper has gradually eased, and stocks are rising, the demand from China and the overall inventory level are still low, suggesting that the tight market supply situation will continue for some time.
Investment funds may be optimistic about the situation at the end of the month and the end of the quarter, and seek to protect their profitable parts. But others say that the near-term short-term uncertainty is still there, and the market is moving from the traditional off-season low season to the later, usually more active quarter.
On Monday, the London Metal Exchange (LME) base metal finished higher than tin, with copper rebounding in the late session and expanding its early gains. Traders said copper is expected to sustain a rebound from the low of around $3,500 last week.
A trader said that it has been far from the low point and the fund has been extending from the September period to October, so they are maintaining their positions.
Copper earlier this month hit a record high of $3,725 per ton, and then fell all the way to 3,510. Three-month copper closed at $3,605/ton in late-night trading and closed at 3,546 on Friday.
Another trader said that copper is rebounding, and it may be the limit to drop by around $200 from the record high.
Although the long-term and large-supply shortage of copper has gradually eased, and stocks are rising, the demand from China and the overall inventory level are still low, suggesting that the tight market supply situation will continue for some time.
Investment funds may be optimistic about the situation at the end of the month and the end of the quarter, and seek to protect their profitable parts. But others say that the near-term short-term uncertainty is still there, and the market is moving from the traditional off-season low season to the later, usually more active quarter.