September 26th LME metal closing

London (September 26th) – Copper on the London Metal Exchange (LME) fell Tuesday as oil prices dropped more than two years before the previous trading day, and the dollar strengthened.
London 17:00 on September 26th (Beijing time at 00:00 on September 27th), three month copper fell 0.6% to $6411 a tonne. Copper hit its lowest point in 8 months on Friday at $6366 a tonne.
Daniel Briesemann, an analyst at Commerzbank, said Tuesday morning that basic metals were supported by a big rise in oil prices, but then oil prices fell and the dollar strengthened, so metal prices were weighed down.

It said last week that speculative investors were pulling out of the copper market for the third week in a row, and basic metals appeared to be losing one of the most important support factors of the past few months, namely, the speculators.
Brent crude futures slipped Tuesday, after investors rose to a 26 month high yesterday. Turkey threatened to cut off foreign oil pipeline in the Kurdish region of Iraq, causing Brent crude rose earlier.
Global stock markets and the euro continued to decline, increased global uncertainty, deter investors.

BHP chief commercial officer Arnoud Balhuizen said Tuesday, this year is a turning of the electric vehicle market, the influence of metal producers reflected in the copper business, copper supply to meet growing demand is not easy.
LME three months zinc rose 0.6% to $3116 a tonne.
Three month lead rose 0.5% to $2488 a tonne.
Tuesday’s exchange data showed that LME zinc inventories continued to decline by 1600 tons, a decrease of 39% this year.
Spot zinc expanded from $2007 in three months to $69 since the beginning of the year, indicating a tight supply of stock.
The Asian Development Bank has raised its economic growth forecast for this year, with exports recovering and strong growth in services, thanks to strong domestic consumption.
In three months tin closed close at $20710 per ton.
Three month nickel fell 0.9% to $10480 a tonne.
Three months aluminum fell 1% to $2126 a tonne.