Domestic and international inventory divergence, non-ferrous metals await further driving signals: Summary of views on non-ferrous metals on August 26.
2026-08-26 13:59:01
A summary chart of futures company views: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on August 26th. See the FX678 chart in this article for more details. Copper: LME inventories have returned to decline, and swap fees have rebounded. The market's concern about potential short squeeze risks on the LME cannot be eliminated, maintaining a relatively strong copper price trend. Zinc: With the domestic export window opening, overseas supply pressure may rebound. LME zinc inventories increased slightly month-on-month, but no strong inventory accumulation trend has formed. With low inventory levels, the risk of short squeeze remains, and zinc prices are expected to fluctuate with a slightly upward bias. Aluminum: The overall oversupply situation remains unchanged. There is a divergence between ore-side quotations and acceptance prices, and the market has not yet broken out of its low-level fluctuation range. Nickel: Weekly inventory performance is mixed. Overseas inventory pressure is relatively high, while domestic inventory is showing rapid destocking. Concerns about slowing quota increases above and cost support below suggest that nickel may continue to fluctuate in the short term. Tin: The fundamentals are generally strong, and with a tight supply-demand balance, tin prices have medium- to long-term investment value. Tin prices are expected to fluctuate at high levels. 
The above content is based on big data analysis and is for reference only, not investment advice. This chart is provided by FX678.
The above content is based on big data analysis and is for reference only, not investment advice. This chart is provided by FX678.
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