The following is a daily review of base metals published on August 3 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Bronze: Despite a one-time drop in the middle of the day, the close again closed at a record high. More buying is expected tomorrow (4th). Aluminum: The performance was quite strong on that day. In early trading, it was tested near the support level of 1870/75 US dollars, and then it rebounded and closed near the high point of 1900 US dollars. Technically, it tends to rise further, but at a high level it may be subject to selling pressure. Lead: The performance was quite calm on that day. Despite technical downside risks, it was supported by strong performance of other LME base metals. Zinc: The trend of the day was basically the same as that of other major metals, and the stock rebounded higher. Tin: From the overnight high on the day, it closed at $7,300. It is expected that the market outlook may move lower. Nickel: It held steady at the close of the day and closed at $14,350. However, it remained in the recent trading range. After the market needs to break through the trading range it may make the trend clear.
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