According to the information from the Wise Finance APP, non-ferrous metal stocks have seen a widening decline. As of the time of publication, Ganfeng Lithium (01772) fell by 6.19% to HKD 19.84, CMOC (03993) fell by 5.9% to HKD 7.02, Jiangxi Copper (00358) fell by 5.57% to HKD 14.58, and Zijin Mining (02899) fell by 4.75% to HKD 16.46.
On the news front, due to the overall higher-than-expected US CPI in September, the bond market expects the Fed to cut interest rates by only 45 basis points by the end of the year. The options market is betting on only one more rate cut this year, possibly a 25 basis point cut before pausing until early next year. The US dollar continues its recent upward trend, reaching a 10-week high on the 14th, putting pressure on commodities priced in US dollars, including precious metals.
Huatai Securities pointed out that policies continue to exert force, but at the current price levels, the fundamental situation of copper, aluminum, and other varieties may show some differentiation. Investors are advised to pay attention to the risk of high copper prices suppressing demand. In terms of precious metals, the market is betting that the Fed's rate cut pace in November will slow down, and gold prices are expected to fluctuate at high levels in the short term. As for lithium, according to SMM's weekly inventory sample data, domestic social inventories continue to decline, but with the slowdown in downstream peak season restocking pace, some supply-side maintenance and production cuts are nearing completion. It is expected that lithium carbonate prices may weaken, with a long-term view indicating that supply remains in surplus, and lithium prices are expected to remain weak in the long term

601899

02899

603993

03993

600362

00358

002460

01772

The non-ferrous stocks fell further, with Ganfeng Lithium down 6.19%, CMOC down 5.9%, JCCL down 5.57%, and Zijin Mining down 4.75%. Due to the higher-than-expected September CPI in the United States, the dollar strengthened, putting pressure on commodities priced in dollars. Huatai Securities pointed out that the fundamentals of copper, aluminum, and other varieties may show differentiation, and suggested paying attention to the risk of high copper prices suppressing demand. In terms of lithium, it is expected that lithium carbonate prices will weaken, with long-term supply still in surplus

- The article reports a decline in the prices of various metal stocks, with significant drops for companies like Ganfeng Lithium and Jiangxi Copper.  
- This decline is attributed to the U.S. September CPI exceeding expectations, leading to predictions of limited interest rate cuts by the Federal Reserve.  
- Additionally, the article notes that while there is ongoing pressure on dollar-denominated commodities, the lithium market may face weakening prices due to supply excess and slowing demand.

Zhitong

Zijin Mining

ZIJIN MINING

CMOC

JCCL

JIANGXI COPPER

Ganfeng Lithium

GANFENGLITHIUM

Understanding the Market | Non-ferrous stocks fall further, the US dollar strengthens, putting pressure on non-ferrous metals. Institutions say there may be some differentiation in the fundamental situation of metals