LME main commodity international prices (2025.1.06.~1.10.)

December 2024 LME Monthly Average Prices (US$/Ton)

Copper : 8919.53

Lead : 1994.05

Zinc : 3043.00

Primary Aluminium : 2538.43

Nickel : 15470.5

Tin : 28877.75

 Price Fluctuation Analysis

 From January 6 to 10, 2025, the prices of non-ferrous metals on the London Metal Exchange (LME) fluctuated due to various factors. The key reasons are as follows:

1. Economic Indicators and Policy Changes in China

China is the world's largest consumer of non-ferrous metals, and its economic situation directly impacts metal prices. During this period, weaker-than-expected economic data or insufficient stimulus measures from the Chinese government likely raised concerns about demand, leading to price declines.

2. Fluctuations in the Value of the US Dollar

Non-ferrous metals are primarily traded in US dollars. A stronger dollar, influenced by factors such as US economic policies or interest rate hikes, generally puts downward pressure on metal prices.

3. Supply-Side Factors

Changes in production levels, labor disputes, or stricter environmental regulations in major producing countries can impact metal supply. For example, stricter regulations in China's smelting industry could lead to supply concerns, acting as a driver for price increases.

4. Global Economic Growth Outlook

Revised downward forecasts for global economic growth can dampen industrial activity expectations, resulting in reduced metal demand and subsequent price declines.

5. Changes in Inventory Levels

Inventory levels in major exchanges like the LME reflect supply and demand conditions in the market. Increasing inventories suggest oversupply, exerting downward pressure on prices, while decreasing inventories indicate supply shortages, pushing prices up.

These factors collectively influenced the fluctuations in LME non-ferrous metal prices in early January 2025. In particular, China’s economic policy direction and changes in the value of the US dollar were significant contributors.