November 17 AMT Review LME Base Metals

The following is a daily review of metals trading published on November 17 by Amalgamated Metal Trading Limited (AMT), a leading brokerage firm of the London Metal Exchange (LME). Copper: The copper market is still extremely worried about how China's State Material Reserve Bureau handles a large number of short positions in the hands. It is expected that copper will continue to consolidate in the near term until the treatment is confirmed. Aluminum: Aluminum futures performed calmly today. In the case of an increase of 60,000 tons of LME aluminum stocks, aluminum remained stable. It is expected that the market will stabilize. Lead: Lead has once been tested at a high of $1,000/tonne, but has fallen again under heavy selling pressure. It is expected that only the lead price will break through the important juncture and increase, and the market outlook will rise strongly.

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