铜：等待美联储利率决议，价格震荡锌：继续震荡

Report Date - The report is dated October 29, 2025 [1][5][8] Industry Investment Ratings - Not provided in the report Core Views - The report provides trend forecasts for various commodities, including copper, zinc, lead, etc., with most commodities expected to show oscillatory trends [2] Summary by Commodity Metals - Copper: Awaiting the Fed's interest rate decision, prices are oscillating. The trend strength is 1 [2][5][7] - Zinc: Continuing to oscillate. The trend strength is 0 [2][8][10] - Lead: Overseas inventories are continuously decreasing, supporting prices. The trend strength is 0 [2][11] - Aluminum: Continuing to oscillate. Alumina is in short - term sideways movement, and cast aluminum alloy follows electrolytic aluminum. The trend strength for all is 0 [2][13][14] - Nickel: There is a game between smelting inventory accumulation and nickel ore concerns, and nickel prices are oscillating in a narrow range. Stainless steel has limited downward potential and lacks upward drivers. The trend strength for both is 0 [2][15][17] - Lithium Carbonate: The spot tender price is at a high level, showing a strong - side operation. The trend strength is 1 [2][18][21] - Industrial Silicon: Warehouse receipts are being cleared, and there is obvious bottom support. The trend strength is 1 [2][22][25] - Polysilicon: Market sentiment has cooled, and there is a risk of a decline. The trend strength is -1 [2][23][25] - Iron Ore: Oscillating repeatedly. The trend strength is 0 [2][26][27] - Rebar and Hot - Rolled Coil: Driven by macro sentiment, steel prices are oscillating on the strong side. The trend strength for both is 0 [2][28][31] - Silicon Ferrosilicon and Manganese Silicide: Oscillating in a wide range. The trend strength for both is 0 [2][33][35] - Coke: Oscillating on the strong side. The trend strength is 0 [2][36][38] - Coking Coal: Supported by fundamentals, oscillating on the strong side. The trend strength is 0 [2][37][38] Others - Log: Oscillating repeatedly. The trend strength is 0 [2][39][42] - Para - Xylene: In a high - level oscillatory market. The trend strength is 0 [2][43][48] - PTA: Oil prices have corrected, and valuations have declined. The trend strength is 0 [2][43][48] - MEG: In a short - term oscillatory market. The trend strength is 0 [2][43][48] - Synthetic Rubber: Butadiene is weak, and the price of cis - butadiene rubber is under pressure. The trend strength is -1 [2][50][52] - LLDPE: Mainly oscillating. No trend strength provided [2] - PP: Stopping falling in the short term and oscillating in the medium term. No trend strength provided [2] - Caustic Soda: The far - month valuation is suppressed. No trend strength provided [2] - Glass: The price of the original sheet is stable. No trend strength provided [2] - Methanol: Oscillating under pressure. No trend strength provided [2] - Urea: Spot trading has weakened, and pressure is gradually increasing. No trend strength provided [2] - Styrene: Mainly oscillating in the short term. No trend strength provided [2] - Soda Ash: There is little change in the spot market. No trend strength provided [2] - LPG: The upward driving force is limited, and attention should be paid to cost changes. No trend strength provided [2] - Propylene: Supply and demand are relatively loose, and it is oscillating weakly in the short term. No trend strength provided [2] - PVC: Oscillating at a low level. No trend strength provided [2] - Fuel Oil: Retreating in the short term, with continued increased volatility. No trend strength provided [2] - Low - Sulfur Fuel Oil: Temporarily stronger than high - sulfur fuel oil, and the price difference between high - and low - sulfur in the overseas spot market is temporarily stable. No trend strength provided [2] - Container Shipping Index (European Line): Oscillating and consolidating. No trend strength provided [2] - Short - Fiber and Bottle Chip: Rebounding in the short term due to positive demand feedback. No trend strength provided [4] - Offset Printing Paper: Oscillating at a low level. No trend strength provided [4] - Pure Benzene: Mainly oscillating in the short term. No trend strength provided [4] - Palm Oil: The de - stocking in the producing areas is slow, and attention should be paid to the lower support. No trend strength provided [4] - Soybean Oil: US soybeans have rebounded, and the oil - meal ratio has declined. No trend strength provided [4] - Soybean Meal: US soybeans are strong, and Dalian soybean meal is rebounding and oscillating. No trend strength provided [4] - Soybean No.1: Oscillating on the strong side. No trend strength provided [4] - Corn: Oscillating weakly. No trend strength provided [4] - Sugar: Weak overseas and strong domestic. No trend strength provided [4] - Cotton: The cost of new cotton has increased, supporting the futures price of cotton. No trend strength provided [4] - Egg: Maintaining adjustment. No trend strength provided [4] - Live Pig: The sentiment in the spot market has declined, awaiting confirmation. No trend strength provided [4] - Peanut: Attention should be paid to the spot market. No trend strength provided [4]