Metal prices on the London Metal Exchange (LME) fell from a daily high on Tuesday and ended mixed. Traders said that copper and aluminum futures stopped before the recent resistance, and trading after Easter was light. "Because of consumers and funds Lower prices are supported, and profit-makers and producers use current still relatively high prices, so metals may continue to consolidate.†William Adams, an analyst at BaseMetals.com, said in a daily report. Before the end of the next quarter, the market may still be under pressure to close out the fund, which also makes the market very cautious. "Since the previous quarter is coming to an end, many people are reluctant to take risks," said a fund source. Broker Macquarie Bank According to the report, the decline in major base metals last week was the first sign of a correction in primary commodity prices. The zinc in the previous cycle fell by 3.3%, aluminum decreased by 2.5%, and copper fell by 2.3%. As the dollar strengthened, fund buyers settled profits last week. "Most of the funds are in the hands of index funds, and we don't think they will put them out at the moment." The fund source said. Three-month copper once rose to its target price of $3,250 less than $1, but After falling back, it closed at 3,230, still higher than the 3,197 at the close of last Thursday. Changes in the inventory provided support for the overall firm trend of copper, and LME copper stocks fell 525 tons to 44,600. Of which 9,500 tons, or 21%, will be used The settlement was unable to flow into the market. Data released on the Shanghai Futures Exchange on Friday showed that, as of the week of March 24th, its inventory decreased by 15,409 tons, or 42%, to 21,463. Aluminum increased by US$9 to 1,938 by LME aluminum. The news of a reduction in inventory of 3,325 tons was also boosted. In addition, preliminary data from the International Aluminum Association (IAI) show that at the end of February 2005, the total aluminum inventory of manufacturers fell from 3.224 million tons in January to 3.176 million tons. [nCN5626943] Three months Zinc fell by US$12 to US$1,329, although its inventories fell by 1,050 tons. Three-month lead rose by US$4 to US$955. Australian zinc producer Zinifex Ltd. stated that its Century mine has been shut down for 11 days due to equipment problems. Recovery of production. Three-month nickel fell by 225 US dollars to 15,525 US dollars. Three-month tin fell 125 US dollars to 8,050 US dollars.
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