Reuters Review (11-5)
Regulating Flow Sphere For Ball Valve Regulating Flow Sphere For Ball Valve,Three Way Ball,Three Way Sphere,Control Ball Valve Antong Valve Co.,Ltd , https://www.atvalveball.com
May 21 12:06:49, 2024
LME Market: Base metals mostly closed higher on Friday, with copper up 1.3% as USD/EUR fell to record lows. "Currencies and copper futures dominate today's market conditions. As the EUR/USD rises above $1.29, fund buying interest has increased. Copper futures traded around $2,950 a tonne, "a trader of the LME said. The euro/dollar hit a record high near $1.2950 as the market worried about the US's huge current account and budget deficit. The US dollar was under pressure. LME Copper: Three-month copper closed at 2,953 US dollars, higher than Thursday's 2,915. Another trader said, "The market believes that Bush (Bush)'s reappointment means that the US deficit has expanded and the dollar has fallen. Until the dollar/euro has stabilized, metal prices will not fall. I think that metal prices should have fallen earlier. "In addition to supporting the decline from the dollar, analysts said that the technical aspects of copper futures look more. "The current market is Support at $2,825 appears to be very strong, as is 2,750. "Triland Metals said in its weekly report." Copper futures are expected to rise to the psychological $3,000 mark in the next few days, after which the selling pressure will again surface." The newspaper LME Aluminium: Three-month aluminum is quoted at $1,828, up $16. "Unless the aluminum price falls back below 1,700 and remains steady, it may return in the next few days and break through 1,885/90, after which it challenges the psychological level of 2,000." " Triland said. COMEX Copper: Copper futures closed higher on Friday, the market supply decreased and the miners' strike in Chile provided fundamental support, and commodity investment fund buying also increased. "The fund emerged buying, but approached the closing high when it closed, because some Manufactures sold, "An inside trader said. The December copper settlement price closed 1.40 cents higher at $1.3630 per pound with a trading range of $1.3410 to $1.3750. The November period rose about 1.75 cents to $1.3785. Volume is estimated at 21,000. One trader said, "Fundamentals will help the market to break above 1.3750 to 1.40 over the next two weeks.