Year1
- 1：
- 8
- 2：
- 12
- 3：
- 16
On March 1, commodities generally weakened, continuing the cautious sentiment. Among them, the performance of basic metals was divided. As of the close, Shanghai zinc, Shanghai lead, Shanghai aluminum, and Shanghai copper rose by .%, .%, .%, and .% respectively. However, Shanghai nickel and Shanghai tin fell by .% and .% respectively.
Guo Fengda, senior analyst of nonferrous metals at Guosen Futures, said that under the current background of increasing regulatory pressure on futures, the futures market will rely on industry fundamentals and regulatory attitudes to seek support. A slight panic in funds will amplify price fluctuations. The differentiation trend of various varieties will be strengthened.
Looking at non-ferrous futures, Shanghai Tin futures (annual increase of more than %) and Shanghai zinc futures (annual increase of more than %), which have the largest price increase this year, may face greater pressure from high corrections, while Shanghai Nickel futures have experienced relatively large increases this year. (The annual cumulative increase exceeds %) The price is highly elastic, and it is expected to be dominated by high and wide fluctuations. Shanghai aluminum futures (the annual cumulative increase is nearly %) are greatly affected by supply-side reforms and transportation. The short-term supply of varieties is tight, and the near-term strength and far-term weakness are prominent. Or the Shanghai copper futures may adjust to digest the gains (the annual cumulative increase exceeds %, last week's increase exceeded %), which has been dormant for a long time and is facing adjustments as soon as the trend begins.
Overall, futures varieties that have risen too fast in the early stage and whose fundamentals have weakened may face greater corrections, focusing on domestic regulatory pressure and changes in futures-to-spot spreads.
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