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LME Market: Base metals rebounded from lows on Friday, boosted by short-coverage and profit-taking buying before the weekend, but most metals still closed lower. LME Copper: Three-month copper leads the metal, rising from early morning lows At $30, it still closed lower, falling $3,100. "The earlier (period of copper) decline cleared a large number of stagnant bulls. Since then, it has gradually risen." A trader said that prices fluctuate significantly because of the comparison However, liquidity and buying interest were restrained when US traders continued to leave the city due to Thanksgiving. Copper was earlier hit by Chinese selling and later speculative selling pressure. Stop loss selling was triggered, but We encountered support below $3,050 and made short covering to reduce the decline. The closing price in the open outcry trade was $3,074, which is still far below the closing price of Thursday night's composite trading of $3,115. "No one really wants to be short." With the December contract, the degree of technical distortions has increased. "A trader said that the spot/three-month inverse price spread is 137/139 US dollars, and Thursday is 135/140 US dollars. Earlier, tomorrow/the next day (TOM/next ) The trade-back spread narrowed from $7.50 on Thursday and was $15 in the middle of the week. Field rumors that the SRB may contract extension. Some traders said that there are rumors that China's State Reserve Bureau (SRB) may extend its holdings of contracts. The State Reserve Bureau holds more than 30,000 tons of copper long positions on the Shanghai Futures Exchange on December contracts. Shanghai Stock Exchange's inventory is less than the above, so SRB's extension of the contract will prevent delivery problems and reduce the distortions of the December contract. "If they do not do this, I would be surprised ... but the contract extension There will be no impact on the overall situation until January - the market will continue to maintain the situation of supply exceeding demand." Bache Financial's McMillan said. "The market finds support when it falls, because it gives the bears a chance to cover." LME Copper Inventory continues to decline. LME copper stocks continued to decline, dropping by 200 tons to 59,450 tons, setting a new low since July 1990. LME Aluminum: Three-month aluminum closed higher at US$1,854 and closed at US$1,847 yesterday. COMEX Copper: Closed