LME composite trading closing support level resistance at 14th RSI 10th MA 30th MA three-month copper 3550.00 * 3500 * 3600 * 59 * 3553 * 3430 aluminum three-month period 1888.00 * 1850 * 2000 * 63 * 1878 * 1825 London 8 News on the 11th: Traders said on Thursday that the London Metal Exchange (LME) copper futures will fluctuate in seasonally thin market conditions in the next few trading days. Supply factors will still dominate the market conditions. Copper prices rose by nearly 2% on Wednesday. Due to the high environmental protection costs of the American copper miner Asarco and the five-week strike of the subordinate Arizona and Texas copper miners, they filed for bankruptcy protection. The three-month copper report was issued at 0645 GMT. T$3,550/555, which was unchanged from Wednesday's composite transaction closing level, but fell from the record high touched last week by US$50. A Japanese trader stated, “There is not much follow-through buying in the Asian market today, mainly because of China’s supply. It seems that the market conditions are generally light." "The news of Asarco filing for bankruptcy protection has already been digested by the market. Before the news of the new supply surface, the market will remain cautious on the recovery of copper. We expect the current copper futures to show a consolidation trend." Closer attention will be given to the newer LME inventory scheduled to be released at 0800 GMT. On Tuesday, LME copper stocks soared by 3,175 tons. This week copper stocks have risen by nearly 6,500 tons, to nearly 45,000 tons. Triland Metals reports in the daily market "The news that Asarco seeks bankruptcy protection has stimulated the rise of copper prices, but production should be hardly affected because the company can continue to produce in such circumstances. Tension will continue to shroud the market and trading will remain bleak." Aluminium was quoted at $1,897/902 U.S. dollar and was traded at 1,888 yen late on Tuesday.

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