Early comments on non-ferrous metals copper, aluminum, zinc, lead, tin and nickel on March 16

Copper price:

The strong US dollar and the decline in oil prices dragged down the price. LME copper fluctuated overnight and closed down by US$16. China's economy maintained its recovery growth. The short-term downstream market consumption was still restrained. Today, copper materials rose or fell little.

Aluminum price:

The optimism of the global economic recovery has increased. Lun Aluminum closed up by more than 2.2% overnight. The recent cost-side price has been relatively stable, and carbon emission-related policies have affected the supply side. It is expected that the current aluminum will rise today.

Zinc price:

China's industrial growth was stronger than expected. Zinc surged overnight and closed up US$45. TC continued to squeeze refinery profits. Some companies experienced production cuts. Galvanizing orders were gradually picking up. Today, zinc may rise.

Lead price:

LME lead inventory rose to a high in the past two months. LME lead fluctuated overnight and closed down 0.13%. The cost of recycled lead was clearly supported. The operating rate of downstream battery companies increased slightly, and lead may now rise slightly.

Tin price:

Oil prices fell and commodities were under pressure. Lunxi oscillated and closed overnight and closed down $180. China's data was positive. However, market sentiment was still cautious before the results of the Federal Reserve meeting.

Nickel price:

The global economic outlook is improving. US stocks rose. Nickel bottomed out overnight and closed up 1.16%; Indonesia's OBI island nickel wet process project is about to start production, and the demand for refined nickel remains strong. Spot nickel may rise slightly today.