Next week
[crone] copper is running at a weak price and partially lost after the week. Macro disturbances increased during the period and the basic narrative logic weakened. The 15-year policy package is expected to land, with interest-rate reductions abroad expected to cool, while revolving pressure on the spot market has not diminished and macro and basic resonance drivers have weakened. In the back market, copper prices are expected to run in the coming week, with a reference range of $98,500-102,000 per ton and a lron copper of $12,600-13,000 per ton。
Aluminium is a narrow rebound in domestic prices from high levels this week. The average price for the period was $23806 per ton, a decrease of $496 per ton, or 2. 04 per cent, from the previous period. Macro-level sentiment has been repeated, with the international community cooling around the fermentation of a key mineral from trump and a middle east country, but its thinking of greenland has raised the market’s concern about the us-european trade game; and the fed’s question of the next candidate remains unresolved. Non-ferrous metals show pressure under multiple uncertainties. The federal reserve interest rate was more likely to stabilize in the post-market period in january, and precious metals continued to play a strong non-ferrous role in markets or trading around trade situations in the us and europe. The base structure is relatively benign, the social bank is growing, and the demand-side segment is reduced, cut-off or expanded, but the size plant is supported by demand. The sum is expected to refer to $23500-24500/ton for the aluminium price range next week, or approximately $23950/ton per week。
[ lead] lead price shock is down this week, price shifts down. Weak basics, relatively relaxed supplies and poor demand, with overlapping funds, and falling lead prices. The overall supply remains relatively liberal, while demand performance is weak, and the core factors affecting lead prices remain at the demand level. There was no expected pre-concentrating behaviour in the downstream, and there was a high level of market sentiment and overall lack of confidence. However, due to factors such as the price of raw materials, the cost of refilling the refinery remains high, the cost support remains present or, to some extent, slows down price space. Overall, short-term lead prices are expected to maintain a weak operating posture against a backdrop of weak supply and demand structures and persistent low demand。
[zinc] in the short term, the euro-american tariff-sawing continues, and market sentiment is replete. Essentially, the supply side is relatively well supplied in the spot market, but the price of zinc is high, the demand for purchases is low and the willingness to prepare is low. At the end of the year, some of the end-of-year delivery requirements remain high, but in winter, the demand level is high. Overall, it is expected that the price of zinc or continuation of the high pallet will be larger next week, at a weekly average price of $24,200 per ton, or $23800-24800 per ton in the concussion zone。
This week's tin prices went down and went up. At the macro level, trump's stance on key metal areas has eased, the market has cooled its exposure and the tin price shock has adjusted. On the basics, the pattern of tight supply is expected to ease in the long run, with imports of tin ore and its concentrate of 17637 tons in december, an increase of 120. 3 per cent over the same period and an increase of 16. 8 per cent over the ring. Demand-side, tin prices are high and downstream consumption continues at low demand levels. At present, the price of tin has not returned to its fundamentals, uncertainty remains, and at a later stage, the price of tin is biased, with a focus on 450,000 pressure positions. A combination of tests, tin prices next week or concussion, may vary between $370,000 and $460,000/tonne, with average weekly prices or around $400,000/tonne。
This week, the price of spot nickel moved downwards. Macro, market sentiment is repeated and the overall focus of the coloured plate shifts downward. On the supply side, the indonesian nickel quota message is short-term to bottom nickel prices; the recent opening of the import window has led to a gradual increase in the supply of nickel and a continued easing of supply. Demand-side, nickel demand remains low overall. At the end of the inventory, the base nickel stock is maintained at a high level. Taken together, indonesia's policy message is short-term tortilla prices, but stocks are high and short-term shocks dominate. The market estimates that next week's spot nickel prices or high-level shocks will focus on $135,000,000 per ton, followed by news of indonesia's landing and changes in market sentiment。
