Copper prices may climb and weak aluminum futures

Three-month composite trading closing support resistance at 14th RSI on the 10th MA 30th MA period copper 2968 * 2900 * 3000 * 54 * 2952 * 3004 Aluminum 1795 * 1780 * 1820 * 47 * 1805 * 1810 Reuters London December 15 NEC, an analyst, said on Wednesday that the London Metal Exchange (LME) copper may rise, and that a break in the resistance level means that the futures price will rise to a period of high cycles. In the meantime, the aluminum material is flat. One trader said to Reuters. If the copper price stands at 2,900 U.S. dollars, it may mean that it will continue to rise to about 3,175 U.S. dollars, probably before Christmas. "He said:" Under 2,900 there are apparently purchases from European consumers. People realize that the physical market is falling. Fully seasonal, the premium will rise next year." Traders said that Rotterdam's physical copper premium is about $15 per tonne, but should be raised to $70/80 after the seasonal holiday. Traders said that in China 2 Chinese buyers were active before the Chinese New Year lunar month. At 0746 GMT, three-month copper was at US$2,988/93 per tonne, higher than Tuesday's closing price of the composite transaction at 2,968. Aluminum futures are neutral, and may fall. 0751 GMT, three months Aluminum 1,798/801, rose 3 US dollars.