LME Market Report --- Base metals mixed up and down, U.S. housing starts falling unexpectedly

LME Market Report --- Base metals mixed up and down, U.S. housing starts unexpectedly fell. Pressure on copper The London Metal Exchange (LME) base metals closed mixed on Tuesday. The weaker-than-expected data and the dollar’s ​​firmness put pressure on some metals, but other parts of the metal rose due to tight supply. A trader stated that "copper had slight revisions in the data after the release of the data, and the strengthening of the dollar led to a slight decline in aluminum; however, due to the positive fundamentals and technical factors, it is expected to regain today's decline in the coming days." Indicator Three-month copper The closing price was $2,784 per ton, down from 2,826 on Monday. Unexpected decline in U.S. housing starts data lowered the price of copper; while the U.S. dollar rose against major currencies, as the market expects U.S. Federal Reserve Chairman (FED) Chairman Greenspan to express optimism about the economy when he issues testimony. However, while the labor negotiations between the U.S. and African mines are still in progress, the prices of base metals are still in range. Three-month aluminum closed at 1,720 US dollars per ton, the previous day to close at 1,736. Three-month lead declined slightly; three-month zinc, period tin, and nickel rose slightly. Source: Shanghai Metals