LME three-month copper prices fell 2.1% suppressed by the State Reserve Bureau's export news

London, November 16 news: Three-month copper contract prices on the London Metal Exchange fell sharply by 87 cents to $4,050/ton during the first trading session of the London market on Wednesday, and the Chinese National Reserve Bureau may export 200,000 tons of copper. The news suppressed. Asian traders said that the Chinese State Reserve Bureau (SRB) is currently requesting the State Council to export 200,000 tons of stockpiled copper. Market speculations that the China National Reserve Bank (SRB) has established a short position of 100,000 to 200,000 tons of copper on the London Metal Exchange (LME) that may have suffered huge losses. The SRB is currently at the center of this storm. In addition, LME’s three-month aluminum contract price fell 2.8% to 1,950 US$/t at the beginning of the London market as inventory increased by 57,350 tons to 550,900 tons. At 1027 GMT, LME’s three-month aluminum was quoted at US$1,970-1,975/ton, which was US$36 lower than Tuesday’s settlement price, while nickel and zinc prices also declined.