Early comments on China's non-ferrous metals copper, aluminum, zinc, lead, tin and nickel on March 31

Copper price:

The US dollar index rose to a high in the past five months. LME copper continued to decline overnight and closed down by more than 1.4%. LME copper stocks increased by more than 10,000 tons. The current refined copper consumption fell short of expectations.

Aluminum price:

U.S. Treasury yields hit a 14-month high, overnight Lun Aluminum was under pressure to close down by more than 2%, high prices and downstream consumption performance did not exceed expectations, electrolytic aluminum production capacity was slowly released, and aluminum is expected to fall today.

Zinc price:

U.S. Treasury yields continued to rise, and the overnight trend of zinc zinc closed down 1.31%. Large-scale galvanizing was affected by the overstock of finished products, and the enthusiasm for starting operations was weak. The downstream wait-and-see sentiment increased. Zinc may fall today.

Lead price:

The U.S. dollar continued to rise, and the LME lead oscillated weakly overnight and closed down $3. In the context of refinery maintenance, the regenerated lead factory inventory continued to increase. Due to the off-season constraints, the battery market demand is not strong, and the current lead may not rise or fall much today.

Tin price:

Commodities were under pressure due to weaker oil prices, and the trend of Lun Tin fell overnight to close at US$85; the quarterly output of tin mines in Africa exceeded expectations, while market demand was still weak, and the price of tin was under pressure. Tin prices are expected to fall today.

Nickel price:

The rise in US Treasury yields boosted the US dollar. Metals weakened across the board overnight. LME nickel closed down 1.79%; LME nickel stocks were high, downstream merchants had a strong wait-and-see sentiment, and nickel prices were weak. Today, nickel may fall.

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