Geopolitical fluctuations continue to disrupt the market; the strength in aluminum and zinc still carries the risk of a macroeconomic correction: July 10th [Non-ferrous Metals] View Summary
2026-07-10 12:20:40
A summary chart of futures company viewpoints: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on July 10th. See the special chart in this article for more details.
Copper: Copper fundamentals remain stable. Currently, it is highly correlated with the macro market, and demand changes still require close attention. Following the sharp decline, valuations are recovering, leading to a slightly bullish oscillation in copper prices. Zinc: TC is running at low levels. Considering the decline in by-product prices and the squeeze on smelter profits, coupled with increased maintenance shutdowns at domestic smelters, zinc prices are trending upwards. Aluminum: The possibility of a full recovery of Gulf aluminum production capacity before the end of this year is low. Domestic social inventories are rapidly depleting, and a weak rebound is expected. Nickel: Nickel ore prices may continue to weaken, cost support may decline, and the fluctuating macro environment will lead to volatile consolidation in nickel prices. Tin: Tight supply and demand balance provides medium- to long-term investment value. Short-term trading is characterized by wide fluctuations; a buy-on-dips strategy is recommended.
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, it is highly correlated with the macro market, and demand changes still require close attention. Following the sharp decline, valuations are recovering, leading to a slightly bullish oscillation in copper prices. Zinc: TC is running at low levels. Considering the decline in by-product prices and the squeeze on smelter profits, coupled with increased maintenance shutdowns at domestic smelters, zinc prices are trending upwards. Aluminum: The possibility of a full recovery of Gulf aluminum production capacity before the end of this year is low. Domestic social inventories are rapidly depleting, and a weak rebound is expected. Nickel: Nickel ore prices may continue to weaken, cost support may decline, and the fluctuating macro environment will lead to volatile consolidation in nickel prices. Tin: Tight supply and demand balance provides medium- to long-term investment value. Short-term trading is characterized by wide fluctuations; a buy-on-dips strategy is recommended.
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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- The market involves risk, and trading may not be suitable for all investors. This article is for reference only and does not constitute personal investment advice, nor does it take into account certain users’ specific investment objectives, financial situation, or other needs. Any investment decisions made based on this information are at your own risk.
