Reuters Review (10-18)

LME Market: Base metals Monday evening composite trading closed lower, as bearish pressure in the light of trading overshadowed the support from "Third Wednesday" earlier. "The closing is quite weak and there may be some follow-through selling. Expected top It will gradually decline. "Calyon analyst Ahmed said. "But it should not be forgotten that copper prices of US$1.00 (US$2,200 per ton) per pound are already very good prices for mining companies." He said. Last week Copper fell from a recent 16-year high of $3,177.50 and was weighed on by hedge fund-driven selling. One trader said: "The sharp decline last week surprised many people, and the rate of rebound since then is equally alarming. I think we need to For a period of consolidation." The analyst said that if copper prices try to return to the $ 3,000 mark, investors who missed the sell-off opportunity last week will take the opportunity to profit. He said: "The market will remain in a state of shock... Now, I think it will go down." LME Copper: The three-month copper overnight market closed at $2,793 per ton, which was lower than last Friday's $2,830/825. "Deposited copper has fallen back. Investors are not waiting for the uptrend." Appeared, so some disappointing bullish positions, due to the right "The trend is worried," said the trader. Triland Metals analyst Carson said in a research report that Monday's closing forecast indicates that the copper will test the support level at 2,775. If it falls below this level, it will further fall to 2,730 and 2,650. LME Aluminum : The three-month aluminum movement was mostly independent of other metals, and was partially supported by the US dollar. However, it was still unable to withstand the selling pressure in the late period. The period ended about 27 US dollars lower to 1,738. "Aluminium will still fall, which may be On Tuesday, "Ahmed said that the euro/dollar rose about 0.5% on the day to $1.2520, and the euro appeared to have exceeded the psychologically critical level at $1.25. COMEX Copper: Copper closed lower on Monday, trading was mild, and the market was sharply last week. After the setback, continue to search for the bottom. "Due to the wide range of copper finishing, another stop loss order was triggered, but the scale was far less than last week," said David Meger, metal director of Alaron Trading. The benchmark December contract settled down 2.50 cents per pound. $1.2840, trading range was $1.2700-1.3050. Spot October copper closed down 2.50 cents to $1.2910 per pound. The estimated volume was 12,000.