Most of the products in the non-ferrous metals market continued to rise this week, while some of the products that were still in the downtrend channel last week were “turned from green to redâ€, showing a rise and fall. Of the 10 non-ferrous products monitored by the business community, 7 showed an upward trend, 2 prices were flat, and only 1 product continued to fall. Comparing last week's ups and downs, it is not difficult to find that the non-ferrous market continued to pick up this week, and the increase was further expanded compared with last week. The volume of transactions and the popularity of the business have also improved. This week, market sentiment has begun to gather, and merchants are reluctant to sell. There has not been much change in the year-on-year price changes, which is almost the same as last week. The only product that fell this week was lead, which was a small drop of only 0.6%. The reason why the lead price showed a decline was mainly due to the fact that this week's increase was not large, and the previous decline did not fully recover and showed a decline. Driven by the continued rise in the external disk, the spot price gradually rose to between 17050-17250 yuan / ton, but the overall increase was weak. In view of the lower psychological price of the current lead price, the transaction price is difficult to rise sharply. The upstream manufacturers shipped relatively smoothly, partly because of the bullish attitude towards the market outlook, and the quotation insisted on reluctant sales. The downstream rebound in lead prices has yet to be digested for a certain period of time. The overall supply is still tight, and the lead price has experienced a rebound in the previous period after the previous round of correction.
Copper rose to the top of the list with a 4.9% increase. At the beginning of the week, due to the low price of copper from the low level, many downstream companies continued to wait and see. Due to the recent price fluctuations, the market lacked confidence. Everyone did not dare to rush to buy goods. The copper price has been 62,000 yuan/ Fluctuations around the low level. However, the rise in copper prices for three consecutive days made the transaction in mid-week better, and the market sentiment also gradually increased. Over the weekend, copper prices have risen by more than 1,600 yuan due to the impact of the external market. However, many downstream companies are not eager to rush to buy goods. The global demand outlook is clear, and the supply side is short of supply. Copper prices are expected to return to high levels in the short term. The second place in the increase list is zinc, which is 4.8%. The zinc plummeted in late October. It was once the limit. It was still in the top three positions of the drop list last week. This week, the salted fish turned over. "The position of the runner-up in the jump list. At the beginning of the week, the ordinary 0# zinc was at 16,800-16,900 yuan/ton, and the weekly report was at 17,600-17,700 yuan/ton; the year-on-year increase was 800 yuan/ton. In the first half of this week, the price of zinc was consolidating. As the US continued to release favorable data in the latter half of the week, the price of metals was pushed higher, and the price of zinc began to exert momentum, hitting a high level in the past two months. Some of the upstream manufacturers who are bullish on the market outlook insisted on the The supply of goods is reluctant to sell, while the traders are aggressively shipping, and there is concern that the price of zinc has fallen. Therefore, although the spot market has improved, the overall flat pattern has not changed.
Although precious metals still rose this week, the gains narrowed. Silver ranked third in the gains with a 2.9% increase, and gold rose 1.3%. As the demand for precious metals in the market increased, the prices of gold and silver hit record highs. Due to the relatively low price of silver and limited production, it has become an ideal target for some large funds. Therefore, the price fluctuation of silver is much more intense than gold. In the case that inflation expectations are still strong and consumer demand is on the rise, gold and silver may continue to be supported, and there is still room for improvement in the market.
Fan Yanxia, ​​an analyst at the non-ferrous metal business community, pointed out that this week, all non-ferrous metals have basically turned "green to red", which laid the foundation for the market to recover. At present, the external market is gaining momentum, the US dollar is also falling from a high level, macroeconomic data is good, and non-ferrous metals are late. There is still room for growth, but as the market is still in the buffer stage after the plunge, the downstream still needs to adapt to the high price, and the support on the demand side is not strong. It is expected that there will be a lot of fluctuation adjustment in the increase.
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