Overnight news more light, so that the majority of active adjustment of LME basic metal bottomed out, period nickel for the previous trading day alone increases Budie 2.2%.

On the news surface, a Spanish bank bad debts continued to climb, but because of the government's austerity position and the European Central Bank last week to determine OMT buy debt plan, the market for Spain to maintain a wait-and-see attitude. According to the latest news shows, Spain Tuesday night smooth film out of the 4576000000 Euro short debt, average yield was decreased by 0.2%, while the ten year bond yield in two levels of markets also fell to less than 6%. Thus, the eurozone fourth economic debt problems despite the severe, but the market prospects are still optimistic to solve. This is also partly boosted the metal market risk preference.

Wednesday night, the United States will release a series of August real estate data, including new housing starts, building permits, the second-hand housing sales etc.. The United States is the recovery in the property market is difficult for the QE3 period effect, but as a metal demand is an important downstream, in the metal market attention from policy is expected to return to the fundamentals, will play a positive role.

The technology on the surface, the majority of metal after the callback in average 5 days to get support, and did not undermine the overall upward trend.

Position, longs to continue into the market, the overnight LME copper increased slightly. Since September 3rd, as the price rises step by step, the hand positions from 220000 up to 260000 hand. At the same time, COMEX funds from headroom positions to net positions. As the fund trend has a tendency to copper, thus leading to the base metals prices, has a larger probability will continue to rise.

Of course, this Thursday began manufacturing countries in PMI, there may still be restricted metal price up space, but China and the euro zone economy fundamental dilemma is well known. Therefore, Shanghai nonferrous network ( SMM ) that, unless the manufacturing data appeared unexpectedly sharply, otherwise the second half of the week by the financial attributes of metal prices continue to push up the possibility of large. ( SMM comments )