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Copper futures aluminum will seek guidance from the stock market and the dollar trend
London, April 4 news, LME copper futures aluminum market stabilized at the beginning of the European market on Monday, the period of copper hit last week's high, but the increase in inventory and the US dollar higher market sentiment has been suppressed. At 0711 GMT, LME three-month copper reported 3,243/46 US dollars per ton. "Today's copper trading in the Asian market is quite light. Consumer buying is in the doldrums. It is said that a shipment of copper that was scheduled to arrive in Shanghai in April may be transferred to Singapore. However, the overall level of copper inventory is still very low, and the supply in recent months is tight. The situation is still the same.†The current spot price difference from 3 months is around 144/154 USD. Last Friday, copper inventories increased by 500 tons, with a total stock of 45,275 tons, but it is still close to historical lows. Aluminum stocks were reduced by 100 tons and the total stock was 547,200 tons, a 52-week low. The higher US dollar will also limit the time limit for copper. 0712 GMT, LME aluminum reported at $1,933/37 per tonne. Three-month composite trading closing support resistance at 14th RSI on the 10th MA 30th MA on copper 3,232.00 3200 3310 Aluminum 1,928.00 1910 2000 ??Source: China International Futures Brokerage Co., Ltd.