Early comments on China's non-ferrous metals copper, aluminum, zinc, lead, tin and nickel market on December 17, 2020
Short comment on China's copper price : The Fed stayed on hold and the US dollar was weak, and LME copper closed up by $7 overnight. The global copper market was short of supply in the first ten months. The domestic terminal market continued to improve and the demand outlook was optimistic. Today, copper materials are rising.
A short comment on China's aluminum prices : LME stocks rebounded again, and LME aluminum shot up and fell overnight and closed down by US$1. The social inventory of aluminum ingots remained low and there was no turning point. The production of electrolytic aluminum was not as expected. It is expected that aluminum will rise today.
China's zinc price short comment: The overseas new crown epidemic continued, and zinc weakened slightly overnight and closed down 0.27%. The domestic industrial growth data supported the metal. The tight upstream supply of zinc is difficult to alleviate in the short term. The current zinc may remain stable.
China's lead price short comment: The US economic outlook is facing uncertainty. The LME lead oscillates overnight and closed down 0.63%. The operating rate of primary lead has rebounded. The profits of recycled lead manufacturers are approaching costs. The Shanghai lead shock is repaired. Lead may now rise slightly.
China's tin price short comment: The prospects for US economic stimulus are optimistic. Overnight, Lunxi opened and closed up 1.43% and hit a 20-month high; the top ten global tin markets this year are in short supply, and holders are holding prices. Today, tin may go further rise.
China's nickel price short comment: The overseas epidemic spread, and Lun nickel fluctuated and closed down 1.59% overnight; global nickel supply was surplus, downstream high transactions slowed down, nickel iron and stainless steel are facing loss pressure, and spot nickel may fall today.
