Early comments on China's copper, aluminum, zinc, lead, tin and nickel on March 19

Copper price:

U.S. Treasury yields rose again, overnight Lun Copper was under pressure to close down by more than 1.4%, and copper concentrate processing fees fell to the lowest level in a decade. However, the current downstream consumption has not improved significantly, and the current copper material fell today.

Aluminum price:

The U.S. dollar rebounded and the heavy drop in oil prices dragged down the commodity market. Lun Aluminum closed down by US$17 overnight. Downstream processing companies had a strong wait-and-see sentiment. Aluminum imports soared in the first two months, and aluminum is expected to fall today.

Zinc price:

U.S. Treasury yields continued to rise. Zinc prices fell by 2.25% overnight. Uncertainty in Sino-U.S. negotiations put pressure on zinc prices, and environmental protection measures in the north have curbed downstream galvanizing consumption. Today, zinc may fall.

Lead price:

The Fed's attitude supported the market. Lead rebounded slightly overnight and closed up by US$11. China's lead production increased year-on-year from January to February. The demand for batteries is still in the off-season. The pattern of lead surplus is difficult to change. Lead may fall today.

Tin price:

LME tin stocks fell. LME tin performed better than other metals overnight, closing up 0.87%. The tight supply of tin ore is difficult to change in the short term. There is still support under the tin market, and spot tin may rise slightly today.

Nickel price:

The strong U.S. dollar was under pressure on metals. Nickel fluctuated overnight and closed down 1.23%; domestic ferronickel plants fell into a loss, and stainless steel inventories fell. Businesses were reluctant to sell. The downstream wait-and-see sentiment was strong. Now nickel may fall.