LME copper prices closed near record highs, and fund buying extended the strength

London, November 14th -- London Metal Exchange (LME) three-month copper MCU3gt; weekly intra-day trading closed near record highs, traders said, the market continues to strengthen the recent strong Upward trend.

Continuing active buying in the composite transaction pushed three-month copper MCU3gt to close at $4,125 per ton, up $20 from last Friday's composite trading.

Next may challenge 4,200, but traders said progress may be slow.

A trader said, "Recent prices have risen sharply and quickly, so you may experience a period of consolidation before you go higher again."

"Although it was encouraging on Monday at the close of $4,100, the technical indicators have become very heavy, and it is not surprising that there is a profit taking at such a high price."

The tight supply factor currently dominates the market conditions, and given that LME stocks are held near historical lows, copper futures have also risen correspondingly.

Copper earlier hit a record high of US$4,132 per tonne on Monday, as investors questioned the ability of the State Reserve Bureau to sell copper to suppress copper prices.

A trader said, "The more China advertises that they have a large amount of copper and sells a lot of copper, the higher the price of copper goes. The problem is that if the SRB really sells all of the copper, all copper is bound to be robbed of light. , and buyers may hold these copper more tightly."

Adams of Basemetals.com pointed out that in the case of fundamentals implied negative, there have been more fund buying.

"Perhaps they have already arranged for an exit policy by selling call options (options), but the people who received the last shot seem to be getting a hot potato," he said.

"The way the market rushed to 4,100 on Friday also suggested that the bears have been squeezed again."

Three-month aluminum MAL3gt reported a loss of US$7,051 per tonne, three-month nickel, and MNI3gt; reported 11,870/880, a rise of US$20.

Three-month lead lt; MPB3gt; and zinc lt; MZN3gt; closed at 974 and 1,598, respectively, a decrease of 18 and 10 US dollars. Three-month tin lt; MSN3gt; reported 6,200/205, fell 30 US dollars.

Spirit Level

Mini Steel Tape Measure With Spirit Level

Product Description:

Mini steel tape measure with spirit level features the compact design that is easy to hold and carry in hand. Despite of the small size, the product is made of carefully selected material to improve the durability and precision of the tape. The custom tape measure supplier, Wintape, provides steel tape measure of this kind in various patterns and colors. The mini steel tape measure with spirit level is a good choice as a present.

Specification:

Spirit Level Bubble,Smll Spirit Level Bubble,Steel Tape Measure Small Spirit Level Bubble

Wintape Measuring Tape Company , https://www.wintapetape.com