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LME base metal prices generally closed higher on the 31st
The London Metal Exchange base metal futures prices generally closed higher on the 31st, mainly due to short-covering buying and some speculators buying zinc. Comprehensive Foreign News reported on January 31 that due to short-covering buying and some speculators buying zinc, the London Metal Exchange (LME) base metal futures prices generally closed higher on the 31st, but copper futures fell back from their early morning highs. Affected by the partial closure of Switzerland's Glencore's Porto Vesme smelter in Italy's Vesmei Port, speculative buying in the market increased, and LME’s three-month zinc temporarily climbed above the resistance at USD 1,300/metric ton, but then there was Fall back. The three-month copper contract was consolidated within the range of $3060 to $3,085/ton. The aluminum three-month contract shrugged off the impact of early copper fall, rising to the day's trading high of 1,854 US dollars / ton. All other LME metal contracts have risen, but are still consolidating in the near-term range.