LME Market Report: Buying boosted, base metals mostly closed higher

LONDON, December 21: The London Metal Exchange (LME) base metals mostly closed higher on Tuesday, driven by technical buying. One trader said, "Today's trading is mainly driven by technical factors, aluminum futures lead the trend. Aluminum performance Well, after the $10 decline, it broke the resistance at 1,860. This trend later boosted copper and other metals." Three-month aluminum is $18 higher than the final closing price of 1,875 yuan per ton. Barclays Capital According to the research report, aluminum was boosted by news from China on Monday. Sources said that China may not only cancel the tax refund policy for aluminum exports, but may also impose taxation next year to curb excessive energy production and large exports from the energy-intensive aluminum industry. The situation. Three-month copper rose 14 US dollars to 3,091 US dollars per ton, aimed at the October high of 3,175. Earlier on Tuesday, copper hit 3,102. Traders said, "The period after the copper rose more than 3,100 profits, trading is scarce. The future A few days may fluctuate within the current range and may test again today's highs." Three-month nickel rose 300 US dollars to 14,950 US dollars, expanding Monday's nearly 8% gains. Resistance is expected to be at 15,300. Traders said, " Nickel current trend today The wilderness opened the market, triggering a stop loss, after which the price rose to a high of 14,850 in mid-October, before falling back to 14,650 and then rising again." Zinc fell by 1 US dollar to 1,236 US dollars. Before it rose to 1,250. After a five-year high, profit-taking pressure dragged down the price of zinc. The zinc earlier peaked near 1,247.50 on Tuesday. It was the highest point since November 1999. Traders expect it to test again in the next few trading days. At the same level, lead rose by US$1 to US$945. Tin fell by US$275 to 8,750/755.

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