Early comments on non-ferrous metals copper, aluminum, zinc, lead, tin and nickel on March 17

Copper price:

Uncertainty before the Fed meeting triggered a sell-off. Overnight LME copper closed down by more than 2.1%. International copper inventories rose sharply to the highest level in more than two months. Current demand is still weak, and current copper materials fell today.

Aluminum price:

The continuous rise of the US dollar and the continuous decline of oil prices dragged down the commodity market. Lun Aluminum closed down by US$24 overnight. The huge hidden inventory may impact the market. The high price suppresses downstream demand. It is expected that the current aluminum will fall today.

Zinc price:

U.S. retail sales data in February was upset. Zinc zinc fell at a high level overnight and closed down 2.14%. The recent macro-positive factors have exhausted, social inventories continue to accumulate, and market demand boosts are limited. Today, zinc may fall.

Lead price:

Uncertainty in the Fed meeting, lead volatility overnight closed down 1.91%, battery consumption continued to be light, finished battery inventories were higher than the previous two years, the Shanghai lead was under upward pressure, and now lead may fall slightly.

Tin price:

Waiting for the result of the Fed meeting, the international metals were under pressure overnight, and Lunxi rose and fell and closed slightly up by US$30. Recently, domestic and foreign inventories have risen, and market demand is limited. Shanghai and tin remain in consolidation, and tin is now down slightly.

Nickel price:

The US dollar continued to rise. Nickel fluctuated overnight and closed down 0.4%. The two nickel mines in Russia planned to resume production, but there is still a shortage of nickel. Recently, the price of nickel has consolidated at a low level. Today, the spot nickel may rise or fall limited.