LME Market Report --- Base metals mostly closed lower, U.S. economic data was mixed. LME market report --- Base metals mostly closed lower, U.S. economic data were mixed, and the London Metal Exchange (LME) base metals mostly closed lower on Wednesday. The market is dull. The information on the U.S. economy is mixed, making the market difficult to find guidelines. Most of the period copper is below the flat plate, casting a shadow over the entire market, closing at a barely $2,700 a ton level. In July, US durable goods (durable goods) orders increased by 1.7%, exceeding the market's forecast of a 1% increase. However, new home sales fell more than expected, and the annual rate was lower since December last year. A trader said, "The market conditions today are very boring." He pointed out that there were some small speculative fund purchases in the morning, but after the stop loss order was triggered, the market was weakening all the way. Three-month copper once fell to a one-month low of 2,684 US dollars per ton, but later reduced its decline. Late night comprehensive trading closed at 2,706 US dollars per ton, down 29 dollars from yesterday. Analysts said that copper copper technology looks weaker, and some traders expect it to test $2,680. The market remains anxious about the possible increase in LME inventory. Last week, copper inventories increased by nearly 30,000 tons in a single day, and were attracted by the single-day reverse price spread on the third-week-end contract due in August. Currently more non-warehouse copper is located in Asia and has not yet been registered. Some of the copper registered last week has been classified as "clearance of warehouse receipts," which is copper ready for delivery. The extremely tight relationship between spot contract spreads was eased, with a one-day reverse spread of $0.50 and up to $7.00 last week. However, since the beginning of September 1, the copper contract spread has tightened, and the spot/three-month reverse spread has remained at 58/60. Three-month aluminum also continued to decline, but it was barely above the support level of $1,680 per ton, and late-night general trading closed at $1,692, down $19. The three-month nickel closed at $13,450; the three-month tin composite transaction did not close, closing down $20 to 8,920/50. Three-month lead fell by 5 US dollars to 845 US dollars per ton; three-month zinc rose by 2 US dollars to 977 US dollars, which is the basic metal for the rise.
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