LME market: The London Metal Exchange (LME) base metals mostly closed on Tuesday, as the US dollar regained its weakness and boosted the market with sluggish trends. Traders said, “The market is obviously boosted by the US dollar today, but I think the market outlook will weaken. ""Wednesday is the eve of Thanksgiving. The U.S. market is closed on Thursdays and Fridays, so wait until the economic data is released tomorrow, the market will have nothing to pay attention to." The EUR/USD had previously hit a record high of 1.3105 U.S. dollars, due to the previous Russian Central Bank. Said that it will re-examine the proportion of the euro in foreign exchange reserves. The weakening of the US dollar has increased the purchasing power of foreign investors, but the real buying interest of European investors has not yet recovered sharply. LME Copper: Three-month copper recaptured earlier Losses in overseas markets, but the rise to 3,100 US dollars paused midway. Copper needs to effectively break through this level in order to retest the recent 16-year high hit 3,175 US dollars. Three-month copper futures reported at 3,081 US dollars per ton. , Higher than the technical distortion of the closing price of 3,045.12 on Monday night's composite trading session, the spot/three-month reverse spread remains the same, and the inverse price gap is approximately 134 US dollars at the close. LME Aluminium: Three-month aluminum recovery section As a result, it was previously reported that the world’s largest primary aluminium producer, Alcoa’s union member at the Becancour aluminum smelter in Quebec, Canada, had accepted a labor contract and ended a strike that lasted for four months. Close to the resistance at 1,790/1,800, it stopped and it rose to 1,787 in late trading from 1,778 on Monday. COMEX Copper: Copper futures on the New York Mercantile Exchange (COMEX) held its gains to a close on Tuesday, benefiting from the dollar's decline and speculation and fund buying. The broker said that most of COMEX's transactions ranged from approximately December extension to March, due to the previous notification date on November 30. The benchmark index rose by approximately 0.85 cents to end at 1.4175 US dollars per pound. Intraday trading ranged from 1.40 to 1.4250. The March period also increased by approximately 0.85 cents to close at 1.4145. The other monthly periods were approximately higher by 0.60-1.05 cents. The estimated trading volume was approximately 31,000, including 8,900 were traded on Monday. The deal was 33,719 contracts on Monday. The open interest on Monday rose by 3,309 to 92,539. The US dollar regained its momentum and continued to write new highs against the euro. The market believes that the US is happy to see the dollar depreciate to reduce its current account deficit. This view triggered a decline in the dollar.
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