Inventory levels are showing divergence, and the upward momentum of various commodities is clearly diverging: Summary of views on the non-ferrous metals sector on August 21.
2026-08-21 13:56:58
A summary chart of futures company views: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on August 21st. See the FX678 chart in this article for more details. Copper: Following the US Treasury's statement, market concerns about the debt crisis eased, market sentiment calmed, and copper prices rebounded slightly. Zinc: With the domestic export window reopening, overseas supply pressure may increase. LME zinc inventories decreased again month-on-month, but fluctuations remain, leading to a slightly bullish oscillation in zinc prices. Aluminum: Domestic spot aluminum prices remained at a discount, while overseas spot discounts widened. LME inventories remained flat month-on-month. Assessments suggest aluminum prices are showing signs of weakening, and shorting on rallies is still possible. Nickel: Concerns about quota buffers above and cost support below suggest nickel may continue to fluctuate in the short term. Tin: Significant macroeconomic disturbances caused large market price fluctuations, but the overall fundamentals are relatively strong; tin prices rebounded slightly. 
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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