Inventory game and macroeconomic disturbances lead to range-bound trading in non-ferrous metals: Summary of views on non-ferrous metals on October 9th.
2026-10-09 14:40:21
A summary chart of futures company views: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on October 9th. See the FX678 chart in this article for more details. Copper: LME and domestic copper social inventories continue to decline. If tariff policies are implemented, it may trigger a sharp adjustment in global copper inventory flows, thus affecting LME copper pricing; fundamentals remain strong, limiting price declines. Zinc: Zinc prices may fluctuate within a range in the short term; domestic social inventories are accumulating, and high zinc prices are suppressing demand; regional supply-demand mismatches remain a long-term driver, but this has eased somewhat after the export window opened in September. Aluminum: Shanghai aluminum lacks sustained upward momentum and continues its weak and volatile trend. Low inventories and a strong dollar are the biggest points of contention after the holiday; wide-range fluctuations are expected. Nickel: Current production cuts have not had much impact on inventory, and overall fundamental expectations are weak; sentiment information was digested on the first trading day after the holiday, leading to a sharp drop in nickel and stainless steel prices. Tin: Technology headwinds combined with weak fundamentals led to a sharp drop in tin prices. 
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.
- Risk Warning and Disclaimer
- 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.
