Three-month composite trading closing support resistance 14th RSI 10th MA 30th MA period copper 3319 * 3250 * 3435 * 46 * 3351 * 3242 aluminum 1720 * 1690 * 1800 * 37 * 1749 * 1746 London July 1 message : Traders said that the London Metal Exchange (LME) copper weakened during Friday's pre-market trade, expanding yesterday's decline, but still not breaking the old band. "The copper futures are liquidated yesterday - may be disappointed with some bulls ,"a trader said. "But I think from a speculative point of view, investors will start buying copper at a level of $3,280 per ton until they rise to $3,360/80, and they will lose their appetite." Said. At 0658 GMT, the three-month copper was quoted at 3,310/15 US dollars per tonne, and Thursday night's composite trading session closed at 3,319. During the Asian trading session, copper fell to a low of 3,274.50 U.S. dollars, a record high compared to the previous month. 3,435 fell by about 4.5%. The aforementioned dealers stated that “the possibility of supply disruption was supported by copper and fundamentals’ negative news was ignored – if metal processors reported slowing demand, investors put all their attention on Lido factors." Despite the tight inventory of LME, Japan The major copper smelter, Xinri Minerals Holdings, said that its 2005 mid-year contract with a foreign miner won a record processing fee, indicating ample supply of copper concentrate. Three-month aluminum fell by US$6 to 1,714 per ton. 18. Support is expected at 1,700/05.
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