Fund buying boosted LME’s three-month aluminum futures closed at a nine-year high on the 22nd. The foreign ministry reported on December 22 that boosted by buying funds, the London Metal Exchange (LME) three-month aluminum closed at a nine-year high of $1,905/ton on the 22nd. Dealers said that the market will see more fund buying on the 23rd, but other investors are less involved. Therefore, some market participants are doubtful whether aluminum and other base metals can maintain their uptrend. At midday, LME’s three-month aluminum expanded its gains to an intraday high of US$1,917.50/t. Subsequently, profit taking and sell-off pressure restrained the uptrend of aluminum. At the same time, the purchase of funds has gradually decreased. LME three-month aluminum closed above $1,860 on the 21st triggering fund buying. Therefore, aluminum prices rose during the trading day. The next key resistance for LME three-month aluminum is US$2,050 (February 1995), with support at US$1,950. Higher aluminum prices boosted LME copper and other base metals. LME three-month copper rose to an intraday high of $3,157.50/t. However, the greater volatility of copper prices during the trading day was due to profit-taking and selling pressure. As a result, copper prices rallied to an intraday low of US$3,057/ton before the close, reversing all gains for the day. Despite this, copper prices remain high, thanks to tight copper stocks. LME copper stocks fell by nearly 88% to 52,000 tons. The LME spot/three-month copper discount was US$106/ton, which was slightly lower than US$112.50/ton on the 21st. Following a sharp increase in two trading days, LME's three-month nickel fell below the $15,000 mark and the intraday low was $14,550/tonne. Analysts said that fund buying was the main driving force for the recent rise in zinc and nickel futures. By the end of the year, most of the investors had left the market and the market was light. Other base metals closed lower on the 22nd.