The following is a daily review of metals trading published on September 16 by Amalgamated Metal Trading Limited (AMT), a leading brokerage firm of the London Metal Exchange (LME).
Copper: Not available.
Aluminum: Not provided.
The lead: lead market is calm but under pressure. It is expected that the downside risk of the market will be limited, but we should be alert to fall into a bear market trap.
Zinc: boosted by a few short coverings, zinc prices rebounded in the morning and rose to a high of $1,374/metric ton. However, the late retracement ended lower.
Tin: Tin City remains weak. It is expected that the market outlook will continue to decline. This reflects the ease of supply shortage in Tin City.
After nickel: nickel prices fell to a low of $12,850, the market was oversold and nickel prices rebounded to $13,500. Today's fund selling has re-emerged, but it is less than the number yesterday.
Copper: Not available.
Aluminum: Not provided.
The lead: lead market is calm but under pressure. It is expected that the downside risk of the market will be limited, but we should be alert to fall into a bear market trap.
Zinc: boosted by a few short coverings, zinc prices rebounded in the morning and rose to a high of $1,374/metric ton. However, the late retracement ended lower.
Tin: Tin City remains weak. It is expected that the market outlook will continue to decline. This reflects the ease of supply shortage in Tin City.
After nickel: nickel prices fell to a low of $12,850, the market was oversold and nickel prices rebounded to $13,500. Today's fund selling has re-emerged, but it is less than the number yesterday.