LME Market Report --- Base metals boosted by fund buying as US dollar weakened

The London Metal Exchange (LME) base metal closed above resistance at $2,900 on Thursday, as a weaker dollar after the election triggered fund buying to surface. A trader said, "The drop in the dollar against the euro triggered some fund buying and then some short-covering buying." "But after last month's massive sell-off, the current market is cautious and we have to wait and see the Asian market." How did the copper react when it returned to 3,000." The US dollar was approaching a record low against the euro on Thursday, as lingering doubts about the US's current account deficit continued to escalate and investors began to sell dollars. Dealers said that as the U.S. general election came to a close, low interest rates, high oil prices, and doubts about the pace of economic growth also weighed on the dollar. Three-month copper closed up 39 US dollars at 2,915 and hedge fund and commodity trading advisory (CTA) buying caused a period of copper gains. Three-month aluminum rose 10 US dollars to 1,812 yuan per ton, before the gains were once greater, but the gains were taken to curb gains. The three-month lead rose from 887 to 915 U.S.; the three-month zinc rose 35 U.S. dollars to 1,080; the three-month nickel was driven by technical buying, soaring by 800 U.S. dollars to 14,425; three-month tin in intra-circle transactions Received $9,000.