Inventory divergence in the non-ferrous metals sector, supply and demand dynamics continue: August 1st summary of views on the non-ferrous metals sector.
2026-08-03 13:38:53
A summary chart of futures company views: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on August 1st. See the FX678 chart in this article for more details. Copper: A favorable supply and demand balance will support the price center. Short-term LME inventory reduction will boost prices. Pay attention to changes in overseas monetary policy expectations and US copper tariff expectations. Improved macro sentiment will lead to a copper price rebound. Zinc: With weak supply and demand, zinc's future price drivers may stem from supply-side production cuts, loose macro liquidity, and overseas short squeeze events. Focus on LME zinc performance; the upward slope of domestic prices depends on overseas price trends. Aluminum: Aluminum prices are expected to fluctuate with a slightly upward bias, but the off-season effect will still constrain prices in the short term. Nickel: Fundamental logic has slightly improved; pay attention to quota news. The medium-term quota issue remains unresolved; nickel and stainless steel will fluctuate in line with macroeconomic trends. Tin: Tight ore supply and low inventory levels suggest tin prices may 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.
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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