Copper and aluminum are now keeping to fall.
Taking their performance in 2014 for reference, they will likely embrace a round of rebound in August and September with the increase by more than 10 percent. However, with the glut becoming obvious and consumption entering the off-season later, they will fall, forecast by Zhao Jing, an analyst of 100ppi.com, a commodity information provider.
On the whole, the nonferrous metals index will fall to 710 points in July, but the fall will slow down compared to that in May and June. Due to facility overhauls by lead and zinc smelting plants and the traditional peak season in September and October, the index is projected to increase by 40 to 750 points.
After entering the cold winter in November and December, the index is expected to fall by 30 to 720 points, Zhao added. In the first half of 2015, the nonferrous metals index fell by 47 to 722 points from 769 points at the start of the year.
Looking into the second half of 2015, except for small metals including tungsten and molybdenum, other metals will continue a downtrend due to the sluggish downstream demands, according to Zhao.
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