Copper futures on the London Metal Exchange (LME) closed lower on Thursday, as the rebound in the dollar weighed on market sentiment. However, the bargain-hunting orders that emerged before the close reduced the fall in copper. “The market has been declining since the beginning of the year. People expect the market to plunge further. However, the price of copper has stayed at historically high levels. "A trader of LME said, "This may be a good opportunity to re-establish long positions." Three-month copper closed at $2,951, detached from the roughly $3,000 hit earlier in the Asian market and closed on Wednesday. 2,969. Once fell to $2,942.50 during the session. Three-month aluminum closed down $20 to $1,805. The dollar has fallen out of the historic low above $1.3600 against the euro since last week, and the recovery of the dollar has led to a substantial increase in base metals this week. Falling. The dollar's rise has made base metals denominated in dollars become expensive for other currency holders. A fund source expects that the metal market will fluctuate in the next few days, but it is more inclined to decline. He said, "This year is short "Metals are more profitable than many." Calyon analyst Ahmed said, "The rise in commodities has peaked. Will you act in advance and bet that the market is going down? The problem is that the market may be in these The price stays for six or nine months. ""I think the rest of the world is more relaxed about the deficit in the United States. They have proven that they can deal with this problem. At present, people have begun to pay attention to other figures." He added, " The U.S. economic growth rate may be close to three times Europe's, so the US dollar is weakening and the euro is strengthening. It seems unreasonable. "Other metals are mixed, with three-month zinc falling by $1.50 to 1,207. Three-month lead fell From $16 to 894, it rebounded from a nearly 5% decline earlier set. Three-month tin closed at $7,500 from a low of $6,925, Wednesday at 7,225, three-month nickel at $14,500 and Wednesday at 14,400/ 14,450.
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