Reuters commentary (9-10) LME market: Traders said that the London Metal Exchange (LME) base metal strengthened on Friday. Copper buying triggered a stop-loss order and led other metals higher. The LME trader said: " Stop-loss orders above $2,770 and $2,780 were triggered. In addition, the weaker dollar after the United States released data is the main reason why the base metals continue to strengthen. The US dollar rose against the euro as data showed that the U.S. trade deficit was lower than expected. However, U.S. August The producer price index (PPI) fell 0.1%, originally expected to grow by 0.1%, which prompted the US dollar sell-off to emerge. 1520 GMT, the euro against the US dollar reported 1.2293/96 US dollars, late Thursday, New York reported 1.2194. Analysts said that China In August, the industrial added value increased by 15.9% year-on-year, and in July it was 15.5%, which also helped to increase the price. Man Financial Metals analyst Mel told Reuters: "I think this has caused the price to rise." He said: "But we are Gradually approaching the high end of the range, prices will take a break before further rises.†LME Copper: Three-month copper firmed to $2,795 a tonne, and Thursday night's composite trade closed at 2,753. The intraday trading range was 2,738- 2,802....I still think that copper will sideways Copper has yet to break any important levels. "Another trader said. LME Aluminium: Three-month aluminum rose to $ 1,705, closing at 1,672 on Thursday. The aforementioned dealers said:" The trend of aluminum is very interesting. Some funds are Aluminium sold in the past few days, and now has to cover some short positions." COMEX copper: Copper futures on the New York Mercantile Exchange (COMEX) fell from a three-week high Friday, but still rose sharply, traders said that due to the United States The unexpected fall in the producer price index (PPI) has caused the U.S. Federal Reserve Board (FED) to raise its interest rate policy in doubt, thus suppressing the decline of the U.S. dollar. The weaker U.S. dollar seems to have contributed to copper futures and the stock market has also risen. The drop in crude oil prices has, to some extent, boosted confidence in the economy as a whole.†A copper trader said. Indicators December copper closed up 1.60 cents at $1.28 per pound, intraday trading range was 1.26- 1.2920, which is higher since August 18th. Spot September copper rose 1.60 cents to close at 1.2810 US dollars per pound. Other monthly contracts ended higher at 1.25-1.60 cents. COMEX copper is estimated at 12,000. Mouth, higher than Thursday's 4,591. Date: 2004-9-13 Source: China Aluminum Board Network Information Center
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