livebaccarat| Shanghai copper price volatility intensified: it fell 0.69% to 86550 yuan/ton overnight. The Federal Reserve's interest rate cut expectations and stable growth policies boosted market sentiment

Newsletter summary

The price of copper fell 1% overnight.Livebaccarat.25%, the domestic steady growth policy boosted market sentiment; Rio Tinto announced force majeure of the alumina plant, pushing up the daily limit of contracts; Shanghai and tin rose slightly, global tin inventories began to accumulate, and expected prices fluctuated; zinc prices were bullish in the short term, due to good real estate and tight domestic mineral supply; industrial silicon prices are strong and double silicon demand has not increased significantly, so it is recommended to appropriately stop surplus and leave the market. Lithium carbonate prices fall, supply increases, demand growth is slow, and the future may continue to fluctuate.

Text of news flash

[copper prices fell overnight, high copper prices dampened demand] Copper prices fell 1.Livebaccarat.25% was quoted at US $10822 per ton, while the price of copper in Shanghai also fell 0.69% to 86550 yuan per ton. On the demand side, high copper pricesLivebaccaratOverall demand remained weak. The increase of domestic social inventory shows the trend of imbalance between supply and demand. [macro optimism, liquidity boosted copper prices] the macro environment showed optimism, with Fed Governor Waller hinting at a reduced possibility of raising interest rates and focusing on weak data, injecting confidence into the market. Domestic stable growth policies continue to work, supporting the property market and boosting market sentiment. [fundamentals are weak, copper price storage and supply risk] although the macro side is optimistic, the fundamentals are weak, domestic social inventory continues to increase, and demand is sluggish. The complexity of geopolitics brings uncertainty to the supply side and affects market confidence in copper prices. [nickel prices fluctuate at high levels, industrial chain disturbances continue] overnight LME nickel prices and Shanghai nickel prices fell 0.72% and 0.25% respectively. Although the benchmark price of Indonesian nickel mine domestic trade has risen, the willingness to purchase downstream is not high. In the new energy industry chain, the import growth rate of intermediate products is accelerated, while the slowdown in the scheduling of ternary batteries may weaken the demand for nickel sulfate. [alumina and electrolytic aluminum market trend is strong] overnight alumina and Shanghai aluminum prices are strong. Alumina prices rose to 4212 yuan per ton, while Shanghai aluminum prices fell slightly by 1.11%. Spot market alumina prices rose further, aluminum ingots spot discount range narrowed. [Rio Tinto announces force majeure, alumina market is affected] Rio Tinto announced force majeure on the delivery of two alumina plants in Australia, causing widespread concern in the market and multi-contract limit. It is expected that the market may fall back after the mood is released. [tin price volatility, supply disturbance price valuation] the main price of Shanghai tin rose 0.01% to 277760 yuan / ton. Global tin inventory began to increase, the spot market premium has been adjusted. Supply disruption is still the reason for the high valuation of tin prices, and investors need to pay attention to the resumption of production in Indonesia. [zinc price rose slightly, supply and demand pattern is expected to improve] the Shanghai zinc market rose 0.39% slightly to 24670 yuan / ton. Domestic real estate policies are favorable, zinc terminal demand is expected to grow, and domestic mineral supply is tight.LivebaccaratThe smelting output is increased. The trend of oversupply overseas is expected to continue, zinc internal and external anti-sleeve strategy is worthy of attention. [industrial silicon price is strong, spot market stabilized] industrial silicon price shock is strong, the main contract closed at 12270 yuan / ton. The spot market reference price fell slightly, but the overall price range remained stable. Silicon factories are willing to resume production because of the government's encouragement to resume production and the slow release of electricity costs, but there is still downward pressure on the fundamentals. [lithium carbonate prices fell slightly] Lithium carbonate futures prices remained stable, while spot prices fell slightly. Supply-side production and imports are expected to increase, demand-end lithium iron phosphate and ternary materials demand continues to grow, but the market acceptance of high-priced goods is not high, inventory levels continue to increase, it is expected that the follow-up market will be mainly volatile.