Inventory continues to decline while costs collapse; is a turning point imminent for non-ferrous metals? July 8th Summary of Views on Non-Ferrous Metals
2026-07-08 13:22:54
A summary chart of futures company viewpoints: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on July 8th. See the special chart in this article for more details.
Copper: Copper fundamentals remain stable, currently highly correlated with the macro market, and demand changes still require close attention; speculation remains low, and copper price fluctuations are limited. Zinc: Inventories have begun to decline, and spot prices remain at a discount, continuously verifying the strength of domestic demand. Attention should be paid to spot premiums/discounts and inventory changes; zinc prices are expected to fluctuate with a slightly upward bias. Aluminum: Short-term upward momentum is still insufficient, and aluminum continues its oscillating adjustment, following the continued recovery of sentiment before catching up. Nickel: Short-term drivers are limited, and short-term trading within a range is the main strategy; the macro environment is volatile, and nickel prices are consolidating. Tin: The number of cancelled LME warrants has increased, and LME inventory reduction is expected to continue; tin prices are expected to fluctuate with a slightly upward bias.
The above content is based on big data analysis and is for reference only, not investment advice. This chart is specially produced by FX678 and is copyrighted.
Copper: Copper fundamentals remain stable, currently highly correlated with the macro market, and demand changes still require close attention; speculation remains low, and copper price fluctuations are limited. Zinc: Inventories have begun to decline, and spot prices remain at a discount, continuously verifying the strength of domestic demand. Attention should be paid to spot premiums/discounts and inventory changes; zinc prices are expected to fluctuate with a slightly upward bias. Aluminum: Short-term upward momentum is still insufficient, and aluminum continues its oscillating adjustment, following the continued recovery of sentiment before catching up. Nickel: Short-term drivers are limited, and short-term trading within a range is the main strategy; the macro environment is volatile, and nickel prices are consolidating. Tin: The number of cancelled LME warrants has increased, and LME inventory reduction is expected to continue; tin prices are expected to fluctuate with a slightly upward bias.
The above content is based on big data analysis and is for reference only, not investment advice. This chart is specially produced by FX678 and is copyrighted.
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