Low spot inventory provides support, while macroeconomic disturbances suppress upward movement: Summary of views on non-ferrous metals on November 4th.
2026-11-04 10:44:27
Copper spot inventories declined, and tight supply at the mines provided a floor for prices, but traditional demand weakened. Zinc was supported by tight supply at the mines, but weak demand limited price increases. Aluminum had low inventories as a floor, but the off-season suppressed any rebound. Nickel supply was ample, and inventories were high. Expectations of a recovery in Myanmar mines put pressure on tin. The sector was repeatedly affected by the US dollar and US Treasury yields. Institutions generally recommended range-bound trading, focusing on smelter operating rates, spot transactions, and changes in overseas liquidity. A summary chart of futures company views is provided: Non-ferrous metals (copper, zinc, aluminum, nickel, tin, etc.) on November 4th. See the FX678 chart in this article for more details. 
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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