The brokerage Macquarie Bank announced on Monday that the open interest on the London Metal Exchange (LME) has fallen sharply over the past two weeks, clearly showing speculators are aggressively reducing their LME positions. Macquarie Bank in the report The open interest contracts continued to decrease, regardless of whether the price is up or down. This would indicate both short covering and long positions. Open interest in LME metals and products for the five days ending October 21. A total of 73,630 cumulative reductions in aluminum open interest decreased by 33,755, while copper decreased by 17,623. The report also stated that "Given the market's severe turmoil more than a week ago, some market participants, special commodity trading advisory (CTA) funds, may Has chosen to reduce its base metal parts, due to the sharp fluctuations in the risk of holding parts too much. "This decline has reversed the trend of significant increases in open positions in early October. Macquarie Bank said, "We believe that In the first half of October, the price increase was almost entirely driven by trend traders, and the gains went far. “The drop in prices, and the subsequent withdrawal of speculative funds, made the price more consistent with the fundamentals. The agency stated that the demand is positive. change There are growing signs that the U.S. consumption rate has slowed down and that the momentum between January and August is now difficult to see again. However, there are signs that demand from China is heating up again. The supply of all metals has increased, but not enough In order to rebalance the market in the first half of 2005, “Our forecast consists of three aspects - price will be firm in the first half of next year and more spikes will occur, and the market will oscillate repeatedly.â€