Prediction of the trend of non-ferrous metals next week
[Copper].
This week, Shanghai copper is V-shaped**, and it will hit the recent ** high again near the weekend. On the macro data, a number of Fed** speakers opposed the rapid interest rate cut, but the US GDP data in the third quarter fell less than expected and the PCE core inflation fell more than expected, which caused the US index to slide again, pushing copper prices higher. On the news side, Peru ** or Red Sea freight in the week may affect ** end preference;In addition, overseas electrolytic copper has been affected by the closure of the import window and its slow inflow into the market, which has also brought some positive factors to copper prices on the inventory side. It is worth noting that the current fundamentals have entered the off-season of demand, affected by the decline in starting demand and high copper prices, the purchase volume of cable terminals has gradually decreased, and the demand for cables has flowed into the first end, or brought some high-level short orders to accumulate. It is expected that Shanghai copper will rise and fall next week, and pay attention to the main force of Shanghai copper 68-6.920,000 range, London copper 8500-8700 US dollars, scrap copper 63-6.40 thousand.
[Aluminum].
This week, London aluminum ** rose slightly, Shanghai aluminum trend is stronger than the outer disk, the weekly cumulative increase of more than 2%, spot aluminum ** also followed the rise as a whole, because this week aluminum went to the warehouse again, but also supported the high price of aluminum**, the Red Sea crisis promoted Friday's alumina ** disk limit, spot aluminum prices also rose again, the daily increase of more than 100 yuan, this week up 350 yuan tons, it is expected that next week aluminum prices will still remain high**, or in 188-1.930,000 range**, but still need to be aware of the risk of a high correction.
[Lead].
This week, the lead inside and outside showed a low trend, and the Shanghai lead rose 029%, as of 4 p.m. on Friday, London lead fell 034%。Spot 1 lead price at 1Above 550,000, the price of lead was the same as last week. During the week, the waste battery was raised one after another, the cost support was enhanced, the fundamentals of the phased supply and demand were weak, the short-term lead price or a narrow range of ** operation, Shanghai lead next week operating range reference 155-1.600,000.
Zinc
Spot zinc prices continued to rise during the week, and have gone out of seven consecutive rises, as of December 22, No. 0 zinc ** was 21410-21510 yuan tons, compared with 380 yuan tons last Friday, an increase of 18%。At the beginning of the week, affected by the U.S. manufacturing data, zinc prices were sideways, with the decentralization of the first batch of domestic trillions of capital budgets, and more for infrastructure, the follow-up demand is expected to be good, forming a certain support for the future zinc, while the Red Sea problem continues to ferment, the cost of shipping increases, and the speculation sentiment boosts Shanghai zinc continues to rise, but the single-day accumulation of zinc in the week exceeded more than 20,000 tons again, and the weak demand has been repeatedly highlighted, inhibiting the space for zinc prices to rise. Next week, London zinc will be closed for the holiday, and it is expected that Shanghai zinc or a narrow range will be the majority, focusing on the main force of Shanghai zinc 2060,000-2160,000 range.
[Tin].
The market has not yet waited for the news of Wa State, if Wa State does not have a clear resumption of production, domestic tin production will be significantly weaker at the beginning of the year, and the cumulative output of integrated circuits in the first 11 months of the country has increased to 3%. On the technical side, the short-term upper side continues to pay attention to the performance of the 210,000 resistance level, and the bulls rely on 2050,000 holds. Next week** overall tends to look at range-bound trading.
[Nickel].
Affected by the significant reduction of the most favored nation import tax in China, the overall nickel price this week showed a leading trend, but 12The vicinity of 90,000 still plays a technical support, and Shanghai nickel closed down 1340 to 130740 this week. On the macro front, key U.S. economic data was weak, and expectations for interest rate cuts roseThe reduction of interest rates on large deposits in China is good for metalsThe industrial chain has not changed much, in terms of ferronickel, imports have declined, iron mills have reduced production and stainless steel ** are at a high level, improving the relationship between supply and demand, but the surplus situation is difficult to reverse. The technical signal is biased, and it is expected that Shanghai nickel will continue to maintain ** next week, with a fluctuation range of 128-13.50 thousand.