AAG

On January 25th the LME metals were reviewed

by:AAG     2020-11-06
On January 25,

the LME metals in London, on January 25, the London metal exchange ( LME) Years of zinc and nickel on Thursday rose to high, because of a weak dollar, LME registered warehouse inventory to decline steadily. Lead prices rose to a high of more than seven years, but closed down. London time 17:00 (on January 25, Beijing time on January 26 01:00) The three-month zinc rose 0. 7%, to $3465 per ton; It touched the decade highs in 3481. $50 for inventory hit more than nine years of the 179450 tons of low. The dollar against other major currencies fell on Thursday, after the us Treasury secretary, says he would welcome a weak dollar. Fall in the dollar makes dollar-denominated commodities cheaper for buyers paid in other currencies. Capital Economics, a senior commodities strategist at Caroline Bain, says $3030 aluminum support broadly weaker commodity prices, but he warned of rising us interest rates expected suppresses the commodity price outlook. Bain said: & other; Commodity prices are likely to rise further, because we see there are a lot of kinetic energy and optimism in the futures market. ” “ But this year, we expect the optimism will abate, we believe that the global economy and China's economy will slow, causing prices to fall. ” LME registration of the warehouse receipt to reduce 1200 tons to 78000 tons, the accumulation decreased by 31% since mid-september. The three-month lead lower 1. 3%, to $2605 a tonne, hit earlier since August 2011, the highest $2653. The three-month nickel to highest level since May 2015, closing up 0. 2% to $13685 per ton. 3030 aluminum nickel is mainly used for stainless steel, the previous session has jumped 5. 6%. Customs data showed China's refined nickel December imports up 116% from a year earlier. Three-month copper closed down 0. 17%, to $7138 per ton. Prices rebounded from a one-month low to the highest level in a week, but still below the peak hit $7312 by December, inventories are expected to put pressure on prices. LME copper registration of the warehouse receipt in 24825 tons to 253400 tons, 67% increase over the past week. Inventory has increased 46% to 299600 tonnes. According to data released Thursday by the General Administration of Customs, China's refined copper imports fell in December 8. 8% to 328338 tonnes, also slightly lower than that of imports in November. The Bain Capital Economics, said the market overvalued copper demand, 3030 aluminum so the inventory is not a surprise. The three-month aluminum down 0. 4%, to $2241 per ton. The three-month tin rose 1. 4%, to $21380 per ton.
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