September 1 AMT Review LME Base Metals

The following is a daily review of base metals published on the 1st of September by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Copper: Not available. Aluminium: The copper price rose on the upside and the market saw only a small amount of selling. Lead: It closed up $25/ton, and it is expected that the short-covering on the 2nd will continue to boost the price of lead. Zinc: A large number of fund accounts overweight zinc long positions, and zinc prices continue to rise. Nickel: The short-covering of funds has resurfaced, boosting the nickel price to reach US$15050/ton, but it may still fall back to the low level in the short term. Tin: The trade is quiet and there are small long positions in the field.

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