Early comments on China's copper, aluminum, zinc, lead, tin and nickel on March 22

China spot copper price:

The Fed will continue to support the economic recovery. The next week Lun copper closed up $68. The strike in Peru caused delays in the delivery of concentrates. The world may face a huge supply gap in the future. Today, copper prices are rising.

China spot aluminum price:

U.S. bond yields fell from a high level to ease the pressure. The aluminum closed last week by more than 2.8%. In the peak season, inventory will usher in an inflection point. There is a seasonal driving expectation in the terminal market. It is expected that the current aluminum will rise today.

China spot zinc price:

The Fed’s dovish statement is positive for fermentation. Zinc rebounded sharply every other week and closed up 2.59%. The time for imported mines to arrive in Hong Kong was extended. The operating rate of galvanized enterprises remained high, and the destocking turning point was approaching. Today, zinc may rise.

China spot lead price:

Rising oil prices are good for market sentiment. Lead fluctuated every other week and closed up 2.65%. Under the dual control of energy consumption in Inner Mongolia, regional production capacity may be reduced, and the operating rate of battery companies increased slightly. Today, lead may rise.

China spot tin price:

The US dollar rose and commodity prices were under pressure. The next week Lunxi bucked the market and closed down 2.33%; the domestic spot tin supply was insufficient, the low-price supply in the market was not much, and the transaction was scarce. It is expected that spot tin will not rise or fall much today.

China spot nickel price:

Crude oil rose. Nickel fluctuated the next week and closed up 1.47%; the output of Philippine nickel ore fell, domestic stainless steel inventory was low, and nickel prices were supported. The short-term performance fluctuated upwards. Now nickel may rise.

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