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June 7 AMT Review of LME Base Metals
The following is a daily review of base metals transactions published on June 7 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Copper: The price of copper briefly rose above the resistance level, but it soon closed at the day's low. It is expected that the market will test support levels. Aluminum: Not provided. Zinc: The zinc price rebounded from the overnight low to the level of $1325, and was later suppressed by fund selling. Tin: Following the trend of other base metals, tin prices fell today. Lead: Lead prices fell sharply today due to the fall in copper prices. Nickel: Today's tin price is under pressure and the trading range is 16600 -16100 USD. Despite the selling pressure from the fund, the price of tin received good support at 1,600 USD. The price of tin is now reported at 16150/200 USD/ton.