U.S. ISM Hits Record High, Boosts U.S. Dollar Rebound; Overnight, London Copper Falls Over 1.3%; Continued Increase in London Copper Inventories Deepens Pressure on Copper Prices, While the Opening of Domestic Import Windows Expands Spot Supply, Leading to Possible Copper Decline Today.
Oil Price Continues to Rise, Supporting the Non-Ferrous Market; Overnight, London Aluminum Edges Slightly Upward by 0.05%; Recent Increases in Shanghai Aluminum Production Costs are Evident, with Signs of Marginal Improvement in End-User Consumption and Aluminum Ingot Inventories Remaining Low, Predicting a Rise in Aluminum Prices Today.
Strong Crude Oil Prices Push Non-Ferrous Metals Higher; Overnight, London Zinc Gains 0.47%; Good Profits in Domestic Smelters Sustain High Production, but Zinc Prices Lack Sustained Upside Momentum Due to Supply Constraints; Limited Ups and Downs Expected for Zinc Today.
Support for November Interest Rate Hike Expectations by Federal Reserve Officials Warms Up; Overnight, London Lead Gains 0.16%; Widening of Delivery Month Discounts and Resilient Supplier Quotations Persist, with High Weighted Positions, Unresolved Liquidity Risks, and Potential Lead Upside Today.
Surging Oil Prices Trigger Inflation Concerns, Leading to a Decline in European and American Stock Markets; Overnight, London Tin Falls by 0.66%; Production Halts in Myanmar Support Tin Prices, but High Inventories and Weak Demand Dominate, Resulting in Narrow Range Fluctuations in Shanghai Tin; Tin Prices Expected to Hold Steady Today.
The U.S. Dollar Hits a Six-Month High; Overnight, London Nickel Falls by 2.52%; Domestic Pure Nickel Production Capacity Continues to Expand, Maintaining a Loose Supply Pattern; LME Nickel Inventories Accumulate, with Expectations of Slight Nickel Decline Today.