Low Non-ferrous Metals or "Reverse Attack"

Looking forward to the future market, from the perspective of domestic fundamentals, CITIC Anxin Futures Nonferrous Metals Research Group points out that copper spot has short-term support, copper scrap is replaced by refined copper, and short-term copper market will continue to adjust; nickel market supply exceeds demand pattern is more obvious, coupled with the downstream stainless steel industry is about to enter the traditional consumption off-season, market trading is difficult to improve, nickel price rebound space is limited, it is recommended to maintain. Empty thinking; Zinc market is strongly rebounded by spot pull, but the magnitude of technical rebound is in line with expectations, and it is expected that the main contract will continue to rebound in limited space; Shanghai zinc market is waiting for peak season and environmental protection theme fermentation; Aluminum market social inventory continues to decline, the pace of de-stocking is accelerated, the cost of alumina continues to rise in the near future and environmental protection factors support, short-term aluminum prices or maintain a strong trend of volatility.

"Copper market overall domestic supply is loose, but consumption peak season performance is not good: air conditioning demand area is generally weak, car consumption data is poor, import copper declines further expanded. Domestic capacity expansion and poor demand performance, copper prices below the lack of strong support, in the Macro-negative situation, the expected trend of copper prices is weak. In the aluminum sector, the performance of aluminum consumption is better than expected. Domestic aluminum stocks have declined and supply pressures have slowed down. With the vigorous development of military, aviation and rail transport industries, the demand for high-performance aluminium materials is expanding, and the expected profits of the industry are expected to increase. It is suggested that attention be paid to the aluminium related stocks. Wanlian Securities analyst Song Jiangbo said.