Reuters Review (1-19)

LME market: The London Metal Exchange (LME) zinc futures rose 2.65% on Wednesday to a higher level since October 1997. Analysts said that this is due to temporary power cuts due to electricity shortages in Zhuzhou smelter in China. One of the news boosted. The three-month zinc closed at $1,238 per ton, compared to Tuesday's closing price of $38. Analysts at Barclays Capital International told Reuters, “If the production cuts take only one month, the supply will not It caused too much impact." "However, the news sent a signal to the market that the zinc industry is vulnerable to the impact of China's electricity shortage and is also sensitive to the shortage of raw materials." Analysts and traders expect zinc to be short-term Raised to $1,300 or higher. A trader of LME said, "We think the short-term zinc futures will point to $1,300/20, and the longer term will be 1,400." Sternby said, "We think the zinc target is $1,400. With the current fundamental situation, it is very likely to hit this price point." The Zhuzhou Smelter has the second largest zinc production capacity in China, with an annual output of nearly 300,000 tons of zinc, accounting for about 3% of the world's total production. The company said that it will increase production. 5% of space. Well-known mining Shares rose in the lead led by Australian mining giant Rio Tinto. Most of the other metals also rose. ** Most metals rose ** Three-month lead rose 13 US dollars to 908. Three-month nickel fell 250 US dollars. At 14,400, there was no transaction for three-month tin, but at 17,21GMT it was reported at 7,625/850 US dollars, up 125 US dollars or 1.7%. LME copper: three-month copper was at US$3,033 per ton, up 23. The second LME dealer said. "The reverse spread widened as people began to try to find scarce spot metals." LME copper stocks were 43,525 tons today, up from 430,000 tons at the beginning of last year. The spot/three-month reverse spread widened to 140/145 dollars, starting early this week at 120 USD. LME Aluminium: Three-month aluminum reported at $1,840, up 6 COMEX Copper: Copper futures on the New York Mercantile Exchange (COMEX) Wednesday held on to gains from earlier gains due to strong US economic data, but traders said that the dollar’s ​​sharp rise at the end of the session led copper out of intraday highs. One trader said. , "The US dollar is making the (period of copper) market under pressure. This is one of the reasons for the closing copper price increase in the closing period. Everyone is paying close attention to this." The indicator March closes up 0.80 cents to 1.4095 US dollars per pound, intraday. The trading range was 1.40-1.4230. The spot January contract rose 1.05 cents to 1.4505. The rest of the month's contract was up 0.30-0.95 cents. The final volume was estimated at 11,000, much higher than Tuesday's 7,185. Momentum. Copper advanced under positive economic data, triggering stop-loss orders for funds, but traders said that once the US dollar resumed its upward trend, the copper’s gains due to the data were short-lived and failed to trigger new buying.

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