Hua an futures: August 16, early evaluation of non-ferrous metal | | industry information
safe futures: August 16, early evaluation of non-ferrous metal trade, the United States recently many times and there are many contradictions occur, the market has the news show weakness. Economics, domestic exports more than expected to give the market confidence in foreign trade, but the club financial data is not optimistic; But the global GDP growth in the second quarter of synchronous superposition of rate cuts than expected, that makes the market for domestic monetary easing have certain expectations. Reproduce upside down in the u. s. , yields, economic malaise, global economic performance is not so optimistic for non-ferrous demand, the market for policy stimulus. : copper concentrate supply tight and with South American event happens, the TC remain low; But from the pure copper stocks since 2019 has more obvious tired library trends, domestic smelting capacity increase instead of consumption is the cause of concentrate supply tension. So at this stage, the main factor of copper in the consumer side, the supply makes the copper prices downward blocked, consumption weakened the copper prices upward, the overall is still in shock interval, the main consumption to improve the situation. Aluminum: shanxi environmental restrictions affect supply of alumina, alumina production or to rising prices have certain help. Inventory into the stable period, improve consumption will drive prices up, take more view. Zinc: raw material supply is relatively abundant, smelting process cost remains high, increase the kinetic energy is stronger, the domestic zinc production increase at the beginning of the second quarter from a year earlier, the downstream zinc consumption growth is slow, zinc inventory decline eased, the price of zinc market will mainly depend on the influence of the macro, short-term rebound or have the power, or waiting for tired library significantly after long single bearish. Nickel: Indonesia banned the news of the ore exports sharply rising prices, but the message is not clear, need to focus on, short-term Shanghai nickel is not suitable for participation. But both consumption and inventory does not support nickel prices remain elevated, activists can try empty light storehouse.