A short comment on the Chinese market of copper, aluminum, zinc, lead, tin and nickel on December 16, 2020

Copper Price

The hope of the United States to reach an economic stimulus agreement was rekindled. Overnight Lun Copper closed up 27 US dollars in shock. China's industrial production showed an overall improvement, and the growth of infrastructure investment accelerated. Today, copper materials rose.

Aluminum Price

The worsening of the epidemic situation in Europe and the United States continued. Lun Aluminum closed down US$20 overnight. The average daily output of primary aluminum in November hit a record. However, the end market demand continued to improve. It is expected that the current aluminum will not rise or fall much today.

Zinc Price

The recent economic recovery in the United States has slowed down. Zinc oscillated overnight and closed down 0.42%. The increase in zinc mines was limited. Environmental protection policies in the northern region were strengthened. There will be a large reduction on both the supply and demand sides. Today, zinc may fall slightly.

Lead Price

Supported by the optimistic data from China's manufacturing industry, LME lead fluctuated up overnight and closed up by 1.23%. Near the end of the year, some companies have increased production to varying degrees in order to complete their annual production and sales plans. Lead may now fall.

Tin Price

Investors focused on the launch of the vaccine. Lunxi oscillated overnight and closed up slightly by US$20. Yesterday, the spot tin price hit a high in more than two years. The downstream market was afraid of high and wait-and-see transactions. It is expected that the spot tin price will drop today.

Nickel Price

Europe further strengthened the blockade. Overnight, the metal was under pressure. Nickel rose and closed slightly up 0.09%. The supply of ferronickel in Indonesia increased sharply, and the nickel market had no market. In the day, Shanghai nickel was consolidating. Today, nickel may fall slightly.