Market worries ease metal market ups

**Summary:** Core Tip: Investors were initially encouraged by Federal Reserve Chairman Ben Bernanke’s signals earlier in the week, but his testimony in Congress clarified that no decision had been made on when to taper stimulus. The Fed's $85 billion monthly bond purchase program continues to support commodity markets, including copper and other metals. However, concerns over slowing Chinese demand for metals are growing, adding pressure to prices. **Latest Market Update** ● LME Copper (6920) rose 11, Aluminum (1825.5) gained 21, Zinc (1864.5) increased by 3.5, Lead (2042.5) fell 1.3, Nickel (14180) surged 154, Tin (19499) dropped 36, and Aluminum Alloy (1780) declined 5. ● International spot gold (1310.9) climbed 15.5, Silver (19.82) rose 0.31, Platinum (1440.5) added 11.5, and Palladium (751.1) increased by 3.6. ● LME copper stock decreased by 2,275, aluminum stock dropped 1,825, zinc stock fell 4,000, lead stock remained flat, nickel stock declined 108, and tin stock stayed steady. ● Shanghai Futures Weekly Inventory: Copper stock dropped 947, Aluminum stock fell 5,092, Zinc stock decreased 2,662, and Lead stock declined 1,559. **LME Analysis & Today’s Forecast** ● **Copper**: The US dollar weakened on Friday, boosting market confidence as the Fed’s flexible monetary policy took hold. Copper closed slightly higher, showing signs of a short-term bottom, with resistance at $7,000 to watch. ● **Aluminum**: Last week, aluminum rose more than 1% on Friday. The $1,850 level remains a key resistance point, and a breakthrough could signal a long-term trend. ● **Lead**: Still trading between $2,000 and $2,100, lead has remained stable. Domestic supply and demand are balanced, keeping prices from making strong moves in the short term. ● **Zinc**: With the Fed’s exit strategy still uncertain, weak dollar conditions have supported commodities. Zinc has seen a modest rebound, but market tension is low, suggesting further gains are possible. ● **Tin**: Supported by a weaker dollar, basic metals rose, but tin struggled, ending the day lower. Technical indicators suggest it may trade around $19,600 in the near term. ● **Nickel**: Bulls are gaining control as market fears ease. Nickel closed above $14,000, and technical indicators are improving, increasing the likelihood of a short-term rally. **Industry Insights** ● **Barclays Cuts 2014 Aluminum Price Forecast**: Barclays revised its 2014 LME aluminum price estimate down to $1,838 per ton from $2,100, citing oversupply due to China’s rising production. ● **Interpretation**: With aluminum prices weakening and Chinese production expanding, many institutions remain bearish. If demand stays weak, prices could fall further, even below levels seen during the financial crisis. ● **Yukon Zinc Cuts Production**: Due to falling zinc and silver prices, Canada’s Yukon Zinc plans to reduce Wolverine mine output by 40% this year and cut 30% of its workforce. ● **Interpretation**: With zinc prices near cost levels, many producers are scaling back operations. Yukon’s decision reflects the industry’s response to weak pricing and low margins. **Financial Highlights** ● Dow Jones fell 4.8 to 15,543.7, Nasdaq dropped 23.67 to 3,587.61, Hang Seng rose 17.2 to 21,362.42, CRB index increased 0.79 to 517.76, US Dollar Index fell 0.07 to 82.57, EUR/USD rose 0.0009 to 1.3146, USD/JPY fell 0.12 to 100.49, and US crude oil rose 0.39 to 108.44. **Global Economic Outlook** ● **Business Confidence Dips**: Global business confidence hit a multi-year low in June, driven by declining sentiment in the US and China. Meanwhile, UK confidence rebounded, and its money supply grew rapidly, contrasting with slower growth in the US and China. ● **G20 Meeting Focus**: G20 finance ministers called for clear communication and careful adjustment of monetary policies to support global recovery. With weak growth and high unemployment in many regions, economic stability remains a top priority. **Market Chart Review** [Image 1] [Image 2] This real-time update provides a comprehensive view of current market dynamics, investor sentiment, and global economic trends affecting commodity and financial markets.

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