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Shanghai Copper is expected to rise after a small shock next week.Cryptoleague, main force range 8Cryptoleague.2-8Cryptoleague.65 million yuanCryptoleagueAluminum price high shock, expected Shanghai aluminum at 2.07-21100 yuan; lead price fell this week, expected waste battery recycling price small adjustment; zinc price high shock, focus on the range of 2.4-25000 yuan; tin price high shock, range of 26.5-280000 yuan; nickel price short-term or shock is strong, Shanghai nickel focus on 14.6-157000 yuan.

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Copper prices will rise moderately next week or after range shocks.

Shanghai copper showed an inverted V-shaped trend this week, with copper prices rising sharply to an all-time high on Monday. However, copper prices have fallen as the impact of the US copper forced position event has weakened and high prices have suppressed downstream consumption. In spite of this, the logic of rising copper prices has been supported by tight copper supply and green energy demand in the long run. In the short term, there may be more high shocks in copper prices, but copper processing fees are lower, some domestic smelters have entered a state of maintenance, and the supply level still supports the price. Next week, Shanghai copper is expected to rise moderately after a shock in the range of 8.2-86500, with Lun copper in the range of $10200-10800 and scrap copper in the range of 7.30-77000.

Upward pressure on aluminum price market persists

Aluminum prices are both high and falling this week, driven by the good real estate market at the beginning of the week, aluminum prices refreshed recent highs. The shortage of alumina supply once aroused market concern, and there are also concerns about the shortage of electrolytic aluminum supply. Although some electrolytic aluminum enterprises in Yunnan have gradually completed the resumption of production, the aluminum supply side is still improving. However, the high price of aluminum leads to lower willingness to receive goods downstream, and the effect of aluminum inventory removal is not obvious, and the upward pressure of aluminum price still exists. Next week, Shanghai aluminum prices may fluctuate around 2.07-21100, with spot aluminum prices in the range of 2.05-21000.

A slight adjustment of the lead price market in the future

Lead prices are down both inside and outside this week, with Shanghai lead down 1.1% and Lun lead down 0.65%. The spot lead price is about 18200, down a total of 150 yuan. The price of waste battery shows a trend of stopping rising and turning down. The price of waste electric car battery in Anhui region is 10205-10305 yuan / ton, up 70 yuan from last week. The shortage of primary lead supply is difficult to ease in the short term. Due to the decline of lead prices and recycling prices of waste batteries, traders have stepped up shipments and refinery stocks have been replenished. It is expected that the recycling price of waste batteries will be mainly adjusted slightly next week.

Zinc prices may continue to fluctuate high next week

Spot zinc prices have risen significantly this week. Fubao 0 zinc spot prices reached 24430-24530 yuan / ton on May 24, up 820 yuan / ton, or 3.46%, from last week. Driven by the strong copper market, zinc prices once stood at a high of 24000. With the rapid landing of the new real estate policy in many places in China, the market is optimistic about the demand prospect. However, the hawkish attitude of Fed officials towards the number of interest rate cuts during the year and the increase in downstream business shutdowns caused by high zinc prices, zinc prices fell slightly in the second half of the week. Near the end of the month, the market price sentiment is likely to continue, Shanghai zinc is expected to continue to high volatility next week, the focus range is 2.4-25000.

Tin prices are expected to continue to fluctuate at high levels next week.

This week, tin prices both inside and outside the market showed a trend of rising and falling. Shanghai tin week fell by 1.02%, and Lunxi fell by more than 2%. Driven by the sharp rise in copper prices, macro sentiment tends to be positive, Indonesian tin ingot exports recover slowly, market expectations of tight supply have been verified, and Shanghai and tin hit a new high of 290520 yuan at the beginning of the week. Market sentiment then fell, Shanghai and tin concussion down to more than 270000. The market is cautious about the volatility of tin prices, and the spot market sells short when prices are high. Tin prices are expected to continue to fluctuate at high levels next week, with a Shanghai-tin reference range of 26.5-280000 and a Lunxi reference range of $32500-34000.

The price of nickel may be strong next week.

Nickel prices fell after rising this week, showing an overall downward trend. Shanghai Nickel's main 2406 contract week fell 0.44% to 152780 yuan / ton, while Lunni fell 4.05%. The price of Fubao Electrolytic Nickel is 150800-153300 yuan / ton. At the beginning of the week, Shanghai Nickel continued to be strong, reaching 159000 at one point, affected by expectations of interest rate cuts in the United States and domestic real estate policies. Subsequently, concerns about the actual inventory of refined nickel and the hawkish attitude of the Fed minutes led to the volatility of nickel prices. In the short term, the suspension of mineral production in Xinka area and the slow approval of RKAB in Indonesia and other factors may make the nickel price shock operation. In the medium and long term, the excess supply and demand of nickel is still the main trend. Next week, the focus range of Shanghai nickel is 14.6-157000, and that of Lunni is 1.8-21000 US dollars.