LME market: The metal prices of LME metal were severely under pressure on Wednesday, and the sharp drop caused by investment fund selling pressure may indicate a more substantial decline. One trader said: “A fund that was once willing to push up prices on Tuesday It was a unilateral market. The volume is also very high today.†Analysts believe that there is no clear trigger for renewed selling, even though the US dollar rebounded after the US published weak retail sales data. They said The market is increasingly worried that the foundations that have been holding long positions in recent months will look for opportunities to adjust their portfolios in the second quarter. "Last night, there was a warning from the former... I think that the big bulls have not been shaken out, mainly "It's a shorter-term investor." A fund source said. With strong speculative funds entering and exiting the market, it is expected that this violent turmoil will become more frequent. "More and more people are talking about weakness in the second half of the year." The metal has already had a good trend. Maybe it just started to put away the bull horn." Alan Williamson, HSBC's metal analyst, said that the three-month copper of the flagship metal fell 2.2% to close at $3,193. It was in the week. It hit a record high of $3,338. Traders in Shanghai said that as a ship carrying 30,000 tons of copper arrives in Shanghai on Tuesday, the supply shortage situation will ease. The tight supply of incentives to spot copper prices in China this week hit an all-time high. In recent days, the tight supply and low inventory in the Shanghai market prompted local speculators to be backed by their large short positions before the April period expired on about Friday, boosting the LME copper rise. Three-month zinc touched nine weeks low Point 1,292 U.S. dollars, which was triggered due to stoppage of selling, fell 5% for a time, compared with an ending price of 1,3027 U.S. dollars yesterday and 1,360 U.S. dollars yesterday. The three-month nickel fell below 15,000 U.S. dollars for the first time since early February to close at 15,275 The US dollar fell by US$250. Three-month lead fell by US$22 or 2.2% to US$933. Tin fell by US$100 to US$8,050. LME Copper: LME Copper hit US$3,180 on Wednesday, which is the lowest since late March. The next target level is 3,135. LME Aluminium: Three-month aluminum fell to a six-week low, falling 3.3% or 63 dollars to US$1,885. COMEX Copper: Copper on the New York Commodity Exchange (COMEX) fell to Wednesday Three-week low, as the fund shed more in the technical downturn The US dollar’s ​​strong and weak U.S. retail sales data exacerbated the decline. Following Tuesday’s speculative pressure on copper to fall by about 2%, the fund continued to sell on Wednesday, causing it to fall again by nearly 4%. “Yesterday's technical break, today's renewal. The market bulls were a bit too much,†said one trader. The benchmark May copper settled down 3.65 cents at $1.4595 per pound, hitting a low of $1.4430 in intraday trading, approaching key support at 1.4420. The approximate daily high was $1.50, which fell sharply from the contracted high of $1.5360 per pound hit on Tuesday. The latter was the first time since March 1989. Copper in COMEX hit a record high of $1.6065 in December 1988. Spot copper in April It closed down 3.65 cents to US$1.4750 per pound. Today's estimated trading volume is 35,000, up from 24,944 on Tuesday. Some traders said that copper is expected to face greater selling pressure, but the downside should be limited.
