Instability in combating copper and aluminum prices? LME copper and aluminum prices fell on Monday, copper prices under the support of 2750 support, aluminum prices to explore the 1700 position, on the surface looks like the dollar is strong, and in fact the lack of investor confidence and popularity is the price The intrinsic reason for the callback is that no matter how strong the fundamentals of copper and aluminum are, if investors do not have the willingness to resolutely buy, it will be difficult for the price to carry out continuous attacks. After the LME copper stocks increased by more than 30,000 tons last Wednesday, there was no further increase in stocks, but the hearts of the people were already awkward. "Traders and analysts said that due to the uncertainty of copper stocks, the market is generally nervous. Copper stocks last week An increase of nearly 40% led to the price of copper falling by nearly 5% in two days.†Metals analyst Feince of Mitsui Bussan said: “But more importantly, there have been rumors that copper has been registered as a warehouse receipt.†Feins expects a deal. Businesses are cautious about increasing inventory this week. The fall in crude oil and the rise in the US dollar on Monday are catalysts. After Iraq resumed two oil pipelines, the fund was profit-sheltered and Nymex's October crude oil closed at $46.05 per barrel. Also based on technical factors rather than news, oil prices fell back to investors in the exchange market with hope that the dollar rebounded. The exchange market in New York rose 1.2146 against the US dollar. Of course, falling prices does not mean that there will be a collapse, and the still strong fundamentals make copper prices have the potential to rise in the medium term, and the decline may be to gain momentum. The price of copper is supported at 2650/60, and Alcoa supports at 1680/1700.
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