Reuters Review (10-19)

LME Market: Base Metals Composite trades ended mostly higher on Tuesday night and traded quietly in the new range. "Basic metals are trading in a range. The price is slightly higher, but I don't think it is likely to go higher," said Sempra Metals analyst Ken. General Commentary. LME Copper: Three-month copper rose 24 US dollars to 2,817 US dollars per ton. Kemp said: "Copper seems to find some support at 2,800/810. However, I think there are still some selling shows in this region. The next meaningful trend will be downwards." "Looking forward, we saw some buying related to foreign exchange movements, especially European customers. The Mexican strike did not cause much impact on the local market, but COMEX seems to be The news responded. "The workers of the La Caridad mine, the third largest copper producer in the world, started a strike on Monday evening at the La Caridad mine. Four days ago, the company's Cananea mine also went on strike. The Mexican group said that the operation of the La Carida mine continues. The strikes of the two mines are illegal. It is unlikely that they will rise further. Kemp said that the fundamentals of demand have begun to soften, as the forecast growth of major economies has been lowered, and the possibility of inflation and rising interest rates seems to be even greater. "At present, I do not see the reason why metal prices have risen sharply. All indicate that supply and demand are rapidly adjusted to higher prices," Kemp said. Despite the rise in US core inflation, indicating that the Federal Reserve Board (FED) may continue to raise rates slowly, but the dollar is still weak. The euro against the dollar in the data At the beginning of the announcement, it fell, but then it recovered to $1.2523. The fund hit a seven-and-a-half-month high of $1.2535 on Monday. LME Aluminium: Three-month aluminum rose by $27 to 1,765 per tonne. Traders said: "As with copper, aluminum futures mainly rely on foreign exchange-driven buying." COMEX copper: Copper futures ended sharply higher on Tuesday, copper trading said copper mine workers strike, inventory decline, and strong market demand and other bullish basics All factors provided support. A New York trader said, "Some profit emerged on the day, and the market is currently in consolidation. I don't think there has been any change in fundamentals. The current price of copper will not rise sharply. I think that consolidation is happening. After that, it will gradually increase from the current level. "The benchmark December copper rose 1.30 cents to $1.2970 per pound, and the intraday trading range was between 1.2800 and 1.3080. Spot copper rose by 1.30 cents per month in October. Pounds of $1.3040. Other monthly prices ranged from a high of 1.20 to 1.80 cents. Estimated volume was 7,000, which was lower than Monday's 11,435. Copper has risen in Asian markets due to Monday's third-largest global Workers of the La Caridad copper mine belonging to the copper producer, Grupo Mexico, went on strike. Another striker of the Mexican group Caninea Copper Mine has also entered the fourth day.