LME: Metals mixed, market concerns Hurricane impact on stocks Metals on the London Metal Exchange (LME) mixed mixed Tuesday, and some traders are concerned that Hurricane Katrina may cause damage to the New Orleans warehouse in the United States. . In addition, traders said that it is difficult for copper prices to test the record highs recently hit, which poses restrictions on other markets. One trader said that the market volume is thin and very quiet. This Monday coincides with holiday breaks and some people are still on vacation. There is not much reason for the market to fluctuate. Copper prices dominated the volatility of basic metal prices, and lead, zinc and most other metals are only following the trend of copper prices. Zinc is a metal that is more likely to be affected by Hurricane Katrina. Hurricane Katrina hit the coast of the Gulf of Mexico and swept through Mississippi, Alabama, and Tennessee. According to LME data, New Orleans (New Orleans) has 1,100 tons of copper inventories, 1,200 tons of aluminum inventories, 248,825 tons of zinc inventories, and a total of 561,950 tons of LME global zinc inventories. A LME spokesman said that LME has about 24 warehouses in New Orleans and these warehouses may be affected. Therefore, we are closely monitoring the development of the situation. However, the three-month zinc trend was flat, at $1,359 per ton, which was $4 higher than at the end of last week. Copper futures were supported by the spread widening, and repeatedly rose to the midline resistance near 3,650. However, many attempts to rush for 3,670 late in the day failed. Three-month copper futures reported at $3,645, up $45 from last Friday and the spot/three-month copper price spread was about 245. Three-month aluminum fell for the most part, but technical support near 1,860 recovered its gains to close at 1,873, and last Friday reported 1,892.50. Three-month lead ended up one dollar higher at $866. Three-month nickel closed down 50 US dollars at 14,775. The three-month tin report was 6,980/7,000, and last Friday reported 7,050.
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