--- title: "Understanding the Market | Non-ferrous stocks decline again as the ongoing tensions in Iran raise interest rate expectations, significantly pressuring valuations in the non-ferrous sector" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/280573339.md" description: "The non-ferrous stocks fell again, with Zijin Mining down 5.9%, MMG down 5.36%, CMOC down 3.93%, and CHALCO down 3.48%. The tense situation in the Middle East has pushed up energy prices, raising concerns about market inflation. The Federal Reserve maintained interest rates, and expectations for rate cuts have receded, leading to pressure on the valuations of non-ferrous commodities. Nanhua Futures pointed out that aluminum prices are significantly affected by geopolitical factors, with noticeable price fluctuations recently. The ongoing war has led to aluminum supply issues, rising crude oil costs, and heightened concerns about economic recession and liquidity" datetime: "2026-03-26T06:07:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280573339.md) - [en](https://longbridge.com/en/news/280573339.md) - [zh-HK](https://longbridge.com/zh-HK/news/280573339.md) --- > 支持的语言: [English](https://longbridge.com/en/news/280573339.md) | [繁體中文](https://longbridge.com/zh-HK/news/280573339.md) # Understanding the Market | Non-ferrous stocks decline again as the ongoing tensions in Iran raise interest rate expectations, significantly pressuring valuations in the non-ferrous sector According to Zhitong Finance APP, non-ferrous stocks have fallen again. As of the time of publication, Zijin Mining (02899) is down 5.9%, trading at HKD 33.52; MMG (01208) is down 5.36%, trading at HKD 7.41; CMOC (03993) is down 3.93%, trading at HKD 16.64; CHALCO (02600) is down 3.48%, trading at HKD 10.81. On the news front, the geopolitical conflict in the Middle East is becoming a protracted war, with the ongoing conflict continuing to drive up energy prices, leading to inflation concerns in the market. Against this backdrop, the Federal Reserve maintained interest rates at its March meeting, and market expectations for interest rate cuts this year have significantly declined, pricing in less than one rate cut for the year. The US dollar and US Treasury yields have strengthened, putting significant pressure on the valuations of non-ferrous commodities such as copper. Nanhua Futures pointed out that the core factor affecting aluminum prices recently remains geopolitical issues, but the shift in market focus has led to a situation where prices initially rose and then fell. Within two weeks of the war starting, the aluminum supply issues in the Middle East became the focus of trading in electrolytic aluminum, with Qatar Aluminum reducing production and Bahrain Aluminum halting shipments, causing a significant rise in electrolytic aluminum prices. However, as the war drags on and both sides show no willingness to ease tensions, rising crude oil costs and the absence of new news regarding production cuts from Middle Eastern aluminum plants have led concerns about economic recession and liquidity to gradually take precedence, resulting in weakened fluctuations in aluminum prices ### 相关股票 - [MMG (01208.HK)](https://longbridge.com/zh-CN/quote/01208.HK.md) - [Hwabao WP CSI Non-ferrous Metal ETF (159876.CN)](https://longbridge.com/zh-CN/quote/159876.CN.md) - [Zijin Mining (601899.CN)](https://longbridge.com/zh-CN/quote/601899.CN.md) - [China Southern CSI SWS Non-Ferrous Metal ETF (512400.CN)](https://longbridge.com/zh-CN/quote/512400.CN.md) - [ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF (516650.CN)](https://longbridge.com/zh-CN/quote/516650.CN.md) - [Guotai CSI Non-ferrous Metal ETF (159881.CN)](https://longbridge.com/zh-CN/quote/159881.CN.md) - [Yinhua CSI Non-ferrous Metal ETF (159871.CN)](https://longbridge.com/zh-CN/quote/159871.CN.md) - [ZIJIN MINING (02899.HK)](https://longbridge.com/zh-CN/quote/02899.HK.md) - [Penghua Guozheng Non-ferrous Metal Industry ETF (159880.CN)](https://longbridge.com/zh-CN/quote/159880.CN.md) - [CHALCO (02600.HK)](https://longbridge.com/zh-CN/quote/02600.HK.md) - [CMOC (603993.CN)](https://longbridge.com/zh-CN/quote/603993.CN.md) - [CHALCO (601600.CN)](https://longbridge.com/zh-CN/quote/601600.CN.md) - [CMOC (03993.HK)](https://longbridge.com/zh-CN/quote/03993.HK.md) - [Guotai CSI Non-Ferrous Metal Kuangye Theme ETF (561330.CN)](https://longbridge.com/zh-CN/quote/561330.CN.md) ## 相关资讯与研究 - [Zijin Gold International Company Limited(SEHK:2259) added to FTSE All-World Index](https://longbridge.com/zh-CN/news/280098488.md) - [Zijin Gold International Posts Surging 2025 Profit on Global Mine Expansion](https://longbridge.com/zh-CN/news/280052656.md) - [Power Metal buys into Chilean copper developer Next Minerals](https://longbridge.com/zh-CN/news/279899640.md) - [Zijin Mining Pumps $2.5B Into Chifeng Gold to Grab Controlling Stake](https://longbridge.com/zh-CN/news/280154694.md) - [METALS-Copper spikes higher after Trump postpones military strikes on Iranian power plants](https://longbridge.com/zh-CN/news/280153612.md)