Low inventory levels still provide support, but macroeconomic disturbances limit upside potential: Summary of views on non-ferrous metals on August 27th
2026-08-27 14:20:02
A summary chart of futures company viewpoints: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on August 27th. 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, which may maintain the upward trend in copper prices. Zinc: With the domestic export window opening, overseas supply pressure may rebound. LME zinc inventories increased month-on-month, and the risk of short squeeze remains at low inventory levels, leading to a slightly bullish and volatile zinc price. Aluminum: The weekly destocking rate has slowed, resulting in wide fluctuations in the market. Nickel: Weekly inventory performance is mixed, with significant overseas inventory accumulation pressure and rapid domestic destocking. Concerns about easing quota increases above and cost support below suggest that nickel may continue to fluctuate in the short term. Tin: Domestic inventories have increased, while LME inventories have decreased, resulting in a slightly weak and volatile price. 
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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