Shanghai exchange sees weekly decline in copper, aluminum, nickel, tin; zinc, lead, rubber stocks rise.

Shanghai exchange sees weekly decline in copper, aluminum, nickel, tin; zinc, lead, rubber stocks rise.

June 19, 2025 - The Shanghai exchange saw a notable weekly decline in copper, aluminum, nickel, and tin prices, while zinc, lead, and rubber stocks experienced an upward trend. The most-traded copper contract on the Shanghai Futures Exchange (HG1!) fell 0.6% to 79,000 yuan ($11,032.75) per metric ton, marking a two-week low [1]. Meanwhile, three-month copper on the London Metal Exchange (HG1!) added 0.7% to $9,777 a ton [1].

The dollar (DXY) weakened by 0.4% to its lowest level since March 2022, which made greenback-denominated assets more affordable to holders of other currencies [1]. This weakening of the dollar contributed to the decline in copper prices. Additionally, the Israel-Iran ceasefire deal provided relief, which positively impacted copper prices [1].

Goldman Sachs expects copper prices to rise in the second half of 2025 to an average of $9,890 per metric ton, driven by fears of a global supply squeeze and increased activity in China [1]. This prediction suggests a potential recovery in copper prices despite the recent decline.

Other metals also showed varied movements. Aluminum (ALI1!) rose 0.3% to $2,570 a ton on the London Metal Exchange (LME) and 0.4% to 20,380 yuan a ton on the Shanghai Futures Exchange (SHFE) [1]. Nickel (NICKEL1!) firmed 0.9% to $15,215 a ton on the LME and 0.4% to 124,110 yuan on the SHFE [1]. Zinc (ZNC1!) was up 0.8% at $2,725 on the LME and 0.9% to 22,165 yuan on the SHFE [1]. Tin (FTIN1!) eased 0.4% to $33,050 on the LME and fell 1% to 256,930 yuan on the SHFE [1]. Lead (LEAD1!) gained 0.6% at $2,044.5 on the LME and retreated 0.8% to 16,675 yuan on the SHFE [1].

The exchange also saw increases in zinc, lead, and rubber stocks, indicating a positive trend in these sectors. This week's market dynamics reflect a complex interplay of geopolitical events, currency fluctuations, and supply and demand factors.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3ST01M:0-shanghai-copper-hits-two-week-high-as-dollar-weakens/