Prospects for LME Copper and Aluminum Futures: Copper futures weakened on Monday

LME composite trading closing support resistance at 14th RSI 10th MA 30th MA three-month copper 3,362.00 * 3330 * 3380 * 61 * 3309 * 3289 three-month aluminum 1,786.00 * 1740 * 1780 * 64 * 1729 * 1744 London 7 News on the 11th: The London Metal Exchange (LME) copper weakened on Monday, but the decline was modest. It is expected that the market will take a firm step in the next few days after digesting the news that a copper miner in Chile decided to end the strike for a week. The leader told Reuters that Canadian copper miner Placer Dome, a Chilean Zaldivar copper mine, voted late Sunday to accept the company’s new salary and benefits program and end the strike that began on July 4. Union leaders said workers may recover on Wednesday. Work. Traders said that copper fundamentals appear to be strong and are expected to resume normal trading. The market was immediately down after the news of Placer was heard in the Asian market. Greenwich time 0647, three-month copper report per ton The 3,345/50 US dollar fell by 17 compared with the late-night comprehensive transaction closing price on Friday. A European trader said, "The futures price of copper is strong, but people are still looking for opportunities to buy on the bargain. Between the current level and $3,380. Some sales, but I still believe that people hope that copper will rise to 3,400.” Traders said that after a wave of fund buying emerged on Friday, the aluminum futures will show a consolidation trend. They added that resistance has been built on 1,780 Near U.S. dollar. At 0647 GMT, three-month aluminum was quoted at US$1,776/80 per tonne, which was a decrease of US$10 from last Friday's consolidated trading price. European traders stated, “I don’t expect aluminum futures to rise further at this time. - The spot supply is somewhat excessive."

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