LME composite trading closing support level resistance level 14th RSI 10th MA 30th MA three-month copper 3975.00 * 3900 * 4000 * 73 * 1985 * 1934 three-month aluminum 2027.00 * 1980 * 2030 * 66 * 3930 * 3889 Traders said that copper prices are likely to hover around the $100 range. Sewage Pump,Effluent Pump,Sewage Ejector,Sewage Sump Pump Zhengzhou Shenlong Pump Industry CO.,Ltd , http://www.waterpump-manufacturer.com
London, Nov. 7 news: The London Metal Exchange (LME) copper was helped by a slight increase in fund buying at the beginning of Monday, as investors got rid of the impact of the increase in copper stocks in China and turned to supply-side tensions.
At 0755 GMT, three-month copper rose to 3,990/3,995 US dollars per ton, and the London Composite Market closed at 3,975 on Friday.
A Japanese trader stated that “previously there have been some buying in the US and Asian markets, and the supply side has apparently remained tense recently.â€
Shanghai Futures Exchange copper prices rose, the main January contract rose 440 yuan to 37,000 yuan per ton.
Aluminum has retraced slightly from its 10-year high of $2,040 per tonne touched last week, but is still strongly supported by higher energy prices and more fund buying.
Three-month aluminum was quoted at $2,030/2,040 per tonne, and the London Composite Market closed at 2,027 on Friday.