Reuters Review (3-2)

LME Market: The London Metal Exchange (LME) base metal did not change much on Wednesday, it traded intraday volatility, was initially affected by investors’ settlements and once fell, it was boosted by buy buying to reverse the decline. The market closed lower on Tuesday and most of the time was lower today, but a 25 dollar increase over the last five minutes of copper looks attractive again, "a trader said. The US Federal Reserve Chairman (FED) Greenspan said that the U.S. economy It is growing at a fairly good pace, but the United States must solve the budget deficit problem by controlling expenditures. After this speech was published, the dollar lost part of its charm. At 17,10GMT, the euro/dollar was reported at $1.3129, which was higher than the 1.3100 before Greenspan’s speech. However, it was still slightly lower than the 1.3160 ​​at the end of Tuesday. Three-month zinc fell from 1,386 to 1,380 US dollars. It is reported that China Huludao Nonferrous Metals Group will restart 80,000 tons of production capacity in May. 15,700 fell to US$15,525. Three-month tin was flat at US$8,375. Three-month lead fell by US$6 to 949. LME Copper: Three-month copper closed up one US dollar at 3,202 per tonne, falling slightly earlier. 3,132.50. Monday copper The record high of 3,280, set in January 1989, was only $10 lower. Another trader said: "It is too early to say that copper has touched the high point of this cycle. But from a speculative point of view, if it is not successful To challenge the double top, the better result is that the copper may peak and there will be a period of consolidation. The poor outcome may mean the end of this wave of rally." LME Aluminium: Three-month aluminum rose 4 US dollars to 1,912. COMEX copper: Copper futures on the New York Mercantile Exchange (COMEX) closed higher on Wednesday, with short covering and trading buying boosted from the 13-day low. May copper closed up 1.25 cents at 1.4770 US dollars per pound. In the 1.4420 to 1.4830 trading session, the March contract was up 1.25 cents at US$1.4770 per pound. The COMEX copper futures volume was estimated at 12,000 contracts. One insider revealed that the market failed to trigger a stop below 1.4400 US dollars. Selling orders were damaged, which prompted short covering, and in the absence of the sell order, the price rose further. Technical resistance for May copper is still at $1.5020, with support at 1.44 and the low of 1.4210 touched on February 16.