The following is a daily review of base metals published on September 2 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Copper: Technical buying pushes copper prices to a new high of $3,725, and the market outlook will wait for opportunities to buy on dips. Aluminium: As copper rose for most of the session, it was sold at the close, with aluminum closing at $1,881, which is equivalent to the opening level. Lead: Affected by short covering by CTA and strong base metals, the lead stabilized again on the 2nd. It is expected to rise further next week. Zinc: Similar trend to other base metals. Tin: Despite the worrying growth of LME stocks, the tin price was flat If other base metals fall, tin will also follow. Nickel: After hitting a high of US$15,350, the trend is stable on the 2nd, and profit taking is cut before the weekend to close at 15230 US dollars.
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