Copper: LME copper inventories continued to rise, exacerbating supply concerns, with London copper falling 0.34% over the past week. Domestic copper stocks have been piling up for a consecutive month, and spot trading remains sluggish, making it difficult to drive prices in the short term. Today’s copper prices are expected to decline.
Aluminum: All three major US stock indices saw declines, with London aluminum falling by more than 1% over the past week. China set a monthly record for primary aluminum production in August, increasing supply pressures. With the return of real demand before the holiday season, albeit at a slow rate, aluminum prices today are expected to decrease.
Zinc: US stock markets retreated, and London zinc halted its four-month high, closing down 1.76%. While galvanized zinc has performed relatively well due to infrastructure support, the pattern of strong domestic demand and weak overseas demand has opened up the import window. Supply remains loose, and zinc prices are expected to decrease today.
Lead: Chinese economic data showing marginal improvement has been favorable for metals, with London lead fluctuating upwards by 0.87% over the past week. The gap in demand for used batteries has become more pronounced, and the market’s circulating supply is relatively tight. Downstream purchasing has picked up on price dips, leading to expectations of lead prices increasing today.
Tin: The three major US stock indices saw volatile declines, with London tin falling by 0.02% over the past week. The People’s Bank of China’s reserve requirement ratio cut has boosted economic recovery. Refined tin production has expanded, but domestic pre-holiday stocking demand has only slightly increased. Shanghai tin is expected to remain in a sideways pattern, with limited fluctuations in tin prices today.
Nickel: The “Super Fed Week” is causing disruption in risk preferences, with London nickel falling 1.53% over the past week. Concerns over nickel ore supply from Indonesia remain unresolved, and high nickel iron production costs with inverted profits have intensified market volatility. Nickel prices are expected to decline slightly today.
Please note that these are financial market commentaries and are subject to change based on market dynamics.