Guandont Changjiang Electric Cable Co.,Ltd!

搜索
Search

banner

banner

新闻中心

Check category
/
/
/
Favorable factors in Europe and China support base metals

Favorable factors in Europe and China support base metals

  • Time of issue:2021-11-30

Favorable factors in Europe and China support base metals

  • Time of issue:2021-11-30
Information

Sucden Financial released the Base Metals Daily on October 24, stating that the base metal market and other industrial commodity markets were comforted by the positive information from the leaders of the European Union at the weekend of the 23rd.
   London Metal Exchange (LME) base metal prices rose sharply overnight. As the euro strengthened and the stock market rose, base metals rose further during London trading hours. Although the 17 countries in the euro zone still had small conflicts with each other before the rescue plan was fully adopted, this positive news was enough to stimulate a short-covering rebound, and this momentum appeared as early as the weekend of the 21st. Overnight, China's higher-than-expected PMI data and the government's remarks on the relief of inflationary pressures further set the tone for the basic metals market. Copper futures cleared all major technical resistance levels and broke through US$7,500/ton. The closing transaction was near the recent high of 7660/7670. Now, if investor confidence is maintained, copper prices may still have the strength to reach the next resistance level of US$8,250/ton. .
   Other base metals undoubtedly also closed strongly, with a trading volume of 3 million lots. The London market closed at 5 pm, with tin futures at US$22,545/ton, lead at US$2,019/ton, nickel at US$19,995/ton, zinc at US$1,876/ton, copper at US$7,635/ton, and aluminum at US$2,218. USD/ton. Gold and silver futures remained stable on the 24th, fluctuating within a narrow range throughout the day.

Relevant information

Changjiang Electric Cable

Guandont Changjiang Electric Cable Co.,Ltd  粤ICP备05099134号 Powered by: 300.cn