On Monday, March 25, with zinc and copper leading the gains by 0.83% and 0.75%, respectively. However, tin saw a slight decline of 0.01%. By 9:15 am on Monday, three-month futures prices showed the following changes compared to Friday's closing prices:
Copper: $8,933 per tonne, up by 0.75%
Aluminium: $2,320 per tonne, up by 0.48%
Nickel: $17,325 per tonne, up by 0.48%
Zinc: $2,504.50 per tonne, up by 0.83%
Lead: $2,051.50 per tonne, up by 0.74%
Tin: $27,725 per tonne, down by 0.01%
Despite the rise in copper prices, the metal remains below its recent high of $9,164.50 per tonne due to challenges in demand and supply issues. ANZ commodity strategist Daniel Hynes noted that optimism over Chinese demand has waned, impacting copper prices. Supply risks initially boosted sentiment but have been overshadowed by demand struggles.Zinc prices, on the other hand, increased by 0.8% on Monday morning, with analyst James Moore attributing this rise to positive seasonality in the galvanized steel market. Despite the increase, zinc prices have retreated from recent highs, influenced by challenges in China's construction sector and reports of Glencore restarting production at its Nordenham smelter in Germany. These factors have created mixed sentiment in the zinc market.