LME copper and aluminum futures prospects: copper material will sideways market attention to inventory changes

LME composite trading closing support resistance 14th RSI 10th MA 30th MA three-month copper 3617/18 * 3575 * 3670 * 61 * 3587 * 3509 three-month aluminum 1919/20 * 1900 * 1950 * 60 * 1909 * 1869 London August 24 news: Traders said that the London Metal Exchange (LME) copper futures are expected to sideways consolidation on Wednesday, the cautious attitude to inventory changes hindered the recovery of copper futures. Aluminum may be weak, if the fall US$1,900/1,910 would be subject to further decline. At 0642 GMT, the three-month copper was at US$3,615/20 per tonne, which fell by US$2 compared to Tuesday's composite market closing. However, copper futures will be the key, and will be set at 0800 GMT. The published LME inventory data will be the main influencing factor. A trader said, “Inventory is difficult to predict now, causing some uncertainty to the traders that entered and exited that day. This year earlier, inventory has been decreasing.” He said. "If stocks fall, copper is expected to rise to $3,640. If it rises again, it may fall back to 3,600." Tuesday, LME copper stocks increased by 1,600 tons to a new high of eight and a half months. Inventories almost doubled in recent weeks. , reaching 62,900 tons. But the continuation of the inverse Poor tension indicates that inventory levels are still very low. Copper futures/three-month inverse price spread was about 216/226 US dollars in early trading, and hit 225/235 US dollars on Tuesday. Triland Metals said that from a technical perspective, the market is neutral in the short term. Expected to fall between $3,600 and $3,650. Three-month aluminum reported at $1,910/13, down $9. LME composite trading closing resistance at 14th RSI on the 10th MA 30th MA three-month copper at 3617/18 * 3575 * 3670 * 61 * 3587 * 3509 three-month aluminum 1919/20 * 1900 * 1950 * 60 * 1909 * 1869 London August 24 news: Dealers said that the London Metal Exchange (LME) copper is expected Wednesday Sideways, the cautious attitude toward inventory changes hindered the recovery of copper futures. Aluminum may be sluggish. If it falls below 1,900/1,910, it is easy to fall further. 0442 GMT, three-month copper 3,615 per ton / $ 20, compared with Tuesday's composite transaction closing level fell by 2 US dollars. But the trend of copper will be the key, and the LME inventory data set to be announced at 0800GMT will be the main influencing factor. A trader said, "Inventory is difficult to predict, give Traders entering and exiting the day made some uncertainties Earlier this year, inventories have been declining." He said, "If inventory declines, copper is expected to rise to $3,640. If it rises sharply, it may fall back to 3,600." Tuesday, LME copper stocks increased by 1,600 tons to eight. A month and a half new highs. Inventories almost doubled in recent weeks to 62,900 tons. However, persistent tensions in tension have shown that inventory levels are still very low. Copper futures/three-month inverse price spread is about 216/226 USD in the morning. , Tuesday touched 225/235 US dollars. Triland Metals said that from a technical point of view, the market is neutral in the short term, expected to range between 3,600-3,650 US dollars. Three-month aluminum reported 1,910/13 US dollars, down 9 US dollars.