LME Market: The London Metal Exchange (LME) base metals generally closed solidly on Monday, with profit-taking pressure on the market earlier, but after the supply of tight supplies and the closure of metal production stimulated buying. Sources confirmed that Swiss producers and Trader Glencore International shut down its 90,000 metric tons of zinc production capacity in Portovesme, pushing zinc prices once higher by US$12 to US$1,300 per metric ton. Glencore also said that its 110,000 metric ton electrolytic zinc refinery in Portovesme will increase production. Says: "The news of shutting down zinc production has been circulating for a while, but it happened to coincide with the bankruptcy of Spain's zinc producer Espanola del Zinc, which may have stimulated a little buying." Spanish zinc producer Espanola del Zinc said on Friday. The company would seek bankruptcy because it could not reach an agreement with the creditors to reschedule the debt. The three-month zinc rose by 10 dollars to close at 1,298, close to the seven-year, three-month high hit 1,307 last week. The three-month lead rose. From US$3 to 935; three-month tin increased by US$10 to 8,010; three-month nickel surged US$100 to close at 14,525. LME copper: three-month copper contracted earlier and fell by 4 to 3, At $082, the spot/three-month reverse spread touched an eight-year high of $187 to provide support. The spread was reported to be about $150 a week ago and only 115 at the beginning of the year. Traders said that shortages and stocks of spot copper are low Standards and other factors have led to tight supply, which has pushed the price difference back towards the $200 level. LME Aluminium: Three-month aluminum has risen by $7 to 1,849. Spot/three-month aluminum has reversed the difference by $7 from last week. It rose to 18 US dollars. A trader said, "If the LME aluminum stocks continue to be released, we will see more buying opportunities." LME aluminum stocks have regained their share of January last year since mid-January. The downward trend in September. As of mid-September last year, aluminum inventories had fallen sharply to 6.89 million tons from the 1.45 million tons at the end of January. Inventories on Monday were 663,325 tons. COMEX Copper: Copper Monday, New York Mercantile Exchange (COMEX) Moderately lower, to reduce the majority of the beginning of the decline. The dollar bucked the copper period and fell at the beginning of the session. Traders said that due to the dollar pared gains, and the London Metal Exchange (LME) copper inventory seems to be tight, so that the New York copper buyers Buying heavily in the lows. Indicator March copper fell 0.35 cents to 1.43 per pound US$50 was traded between 1.4230-1.4370 US dollars. The spot February price rose by 0.05 cents to US$1.4630. The other monthly contracts fell by 0.10-0.35 US cents. The COMEX copper futures volume is estimated at 9,000. Mouth, lower than 11,423 on Friday.
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