Market Developments - The London Metal Exchange (LME) has officially launched its delivery warehouse in Hong Kong, which is expected to promote the settlement of commodities in Renminbi and enhance the currency's influence in international metal trading [1] - The U.S. Department of Commerce has announced the inclusion of 407 categories of steel and aluminum products in a list subject to a 50% tariff, covering items such as wind turbines, mobile cranes, railway vehicles, furniture, compressors, and pumps [1] - The U.S. and Japan are set to discuss the implementation of $550 billion in investments in key sectors including semiconductors, pharmaceuticals, steel, and shipbuilding, with plans to establish a review mechanism to assess national interest impacts [1] Economic Indicators - Standard & Poor's has maintained the U.S. sovereign credit rating at "AA+/A-1+" with a stable outlook, reflecting expectations of continued resilience in the U.S. economy [2] - In July, new housing starts in the U.S. increased by 5.2% month-over-month, reaching an annualized rate of 1.428 million units, marking a five-month high and surpassing expectations of 1.29 million units [2] - South Korea's automobile exports in July rose by 8.8% year-over-year, with exports to the EU increasing by 32.7%, while exports to the U.S. fell by 4.6%, although the decline was less severe than the 16% drop in June [2] Inflation Data - Canada's Consumer Price Index (CPI) rose by 1.7% year-over-year in July, with a month-over-month increase of 0.3%; the core CPI increased by 2.6% year-over-year, remaining flat at 0.1% month-over-month [3]

Core Viewpoint - The establishment of the London Metal Exchange (LME) delivery warehouse in Hong Kong is a significant step in building a commodity trading ecosystem, enhancing Hong Kong's status as an international financial and shipping center [1] Group 1: Strategic Importance - The LME warehouse in Hong Kong will facilitate the promotion of commodity trading in Renminbi, aligning with national development strategies [1] - This move is expected to enhance the usage and influence of Renminbi in international metal trading [1] Group 2: Economic Impact - The initiative is part of efforts to solidify Hong Kong's position as a hub for offshore Renminbi business [1] - The establishment of the LME network in Hong Kong is anticipated to lead to market transformation [1]

Group 1 - The establishment of the LME delivery warehouse in Hong Kong is a significant step in building a commodity trading ecosystem, enhancing Hong Kong's status as an international financial and shipping center [1][3] - The move is expected to lead to a transformation in the metal trading market, reducing logistics time and costs while improving allocation efficiency due to Hong Kong's strategic location and world-class logistics system [1][2] - The new warehouse will facilitate closer connections between the mainland market and the LME trading system, providing mainland enterprises with easier access to international metal trading and increasing their visibility [1][2] Group 2 - The LME warehouse in Hong Kong will enhance the resilience of regional non-ferrous metal supply by serving as a "reserve point" and "stabilizer," mitigating geopolitical risks and trade barriers faced by mainland enterprises relying on overseas warehouses [2] - The initiative aims to strengthen the integration of financial and logistics services in Hong Kong, attracting diverse high-quality third-party services and injecting new momentum into the international financial center [2] - The Hong Kong government has established a dedicated team to explore various aspects of gold trading, with plans to promote Hong Kong as an international gold trading center, including physical gold delivery [2] Group 3 - China, as the world's largest manufacturing country with a comprehensive industrial structure, has a massive demand for non-ferrous metals and possesses rich metal resources and advanced refining technology [3] - The integration into the LME delivery network is crucial for Hong Kong to support national development strategies and further solidify its position as an international financial and shipping hub [3]

Group 1 - LME copper prices declined due to a stronger US dollar and investor caution regarding tariffs, the Russia-Ukraine situation, and US interest rates [1][4] - On August 14, LME three-month copper fell by $37, or 0.38%, closing at $9,766.00 per ton [1][2] - The strong dollar, influenced by high US producer price inflation, makes dollar-denominated commodities more expensive for buyers using other currencies [4] Group 2 - Other base metals showed mixed performance, with three-month aluminum up by $3.50 (0.13%), zinc up by $19.50 (0.69%), and lead up by $1.50 (0.08%), while tin and nickel saw declines [2] - Market analysts are closely watching upcoming events, including the Jackson Hole meeting and the FOMC's release of July meeting minutes, for potential market-moving information [4] - There is potential for market upside, but a triggering factor is needed to break the current trading range of $9,500 to $9,900 [4]

Group 1: Inventory Changes - Copper inventory decreased by 700 tons to 155,000 tons, reflecting a change of -0.45% [1] - Aluminum inventory increased by 1,250 tons to 477,100 tons, showing a change of +0.26% [1] - Zinc inventory decreased by 875 tons to 79,550 tons, indicating a change of -1.09% [1] - Lead inventory remained unchanged at 211,746 tons, with a slight increase of 450 tons, representing a change of +0.21% [1] - Aluminum alloy inventory remained stable at 1,500 tons [1] Group 2: Warehouse Specific Changes - The registered warehouse for copper saw a decrease in inventory from 155,700 tons to 155,000 tons, with a registered warehouse stock of 143,400 tons [4] - The registered warehouse for aluminum increased from 475,850 tons to 477,100 tons, with a registered warehouse stock of 462,875 tons [5] - Zinc registered warehouse stock decreased from 80,425 tons to 79,550 tons, with a registered warehouse stock of 45,700 tons [9] - Tin inventory increased from 1,750 tons to 1,765 tons, with a registered warehouse stock of 1,480 tons [11] - Nickel inventory increased from 211,296 tons to 211,746 tons, with a registered warehouse stock of 197,796 tons [13]

Price Performance - London Gold's latest price is 3383.75 with a change of 11.75 [1] - London Silver's latest price is 38.38 with a change of 0.60 [1] - London Platinum's latest price is 1322.00 with a change of 9.00 [1] - London Palladium's latest price is 1153.00 with a change of -28.00 [1] - WTI Crude's latest price is 63.88 with a change of -0.47 [1] - LME Copper's latest price is 9700.50 with a change of 35.50 [1] - The latest Dollar Index is 98.09 with a change of -0.14 [1] - The latest EUR/USD is 1.17 with a change of 0.00 [1] - The latest GBP/USD is 1.34 with a change of 0.01 [1] - The latest USD/JPY is 147.15 with a change of -0.21 [1] Trading Data - COMEX silver inventory's latest value is 15742.15 with a change of 4.28 [1] - SHFE silver inventory's latest value is 1150.34 with a change of -11.50 [1] - Gold ETF holdings' latest value is 959.09 with a change of 6.30 [1] - Silver ETF holdings' latest value is 15112.28 with no change [1] - The latest SGE gold deferred fee payment direction is 1 with a change of -1.00 [1] - The latest SGE silver deferred fee payment direction is 0.00 with no change [1]

Group 1: Copper Inventory Changes - Copper inventory increased to 153,850 tons, up by 14,275 tons or 10.23% from the previous day [1][4] - Registered warrants for copper rose to 141,850 tons, reflecting an increase of 11.25% [2] - The cancellation rate for copper warrants is currently at 7.80%, down from 8.65% [2] Group 2: Aluminum Inventory Changes - Aluminum inventory reached 466,025 tons, with an increase of 2,300 tons or 0.50% [1][5] - Registered warrants for aluminum are at 452,950 tons, with a cancellation of 13,075 tons, representing a 2.81% cancellation rate [2] - The aluminum inventory in Kaohsiung remains stable at 42,475 tons [5] Group 3: Zinc Inventory Changes - Zinc inventory decreased to 92,275 tons, down by 4,725 tons or 4.87% [1][9] - Registered warrants for zinc are at 48,600 tons, with a cancellation of 43,675 tons, leading to a cancellation rate of 47.33% [2] - The zinc inventory in Singapore also decreased by 4,725 tons, reflecting a similar trend [9] Group 4: Nickel Inventory Changes - Nickel inventory increased to 211,254 tons, up by 2,172 tons [1][13] - Registered warrants for nickel are at 195,384 tons, with a cancellation of 15,870 tons, resulting in a cancellation rate of 7.51% [2] - The inventory in Kaohsiung saw an increase of 1,464 tons, reaching 45,144 tons [13] Group 5: Lead and Tin Inventory Changes - Lead inventory data is not provided in detail, but it is noted that there are fluctuations in various locations [6][11] - Tin inventory decreased to 1,875 tons, down by 25 tons [1][11] - Registered warrants for tin are at 1,390 tons, with a cancellation of 485 tons, leading to a cancellation rate of 25.87% [11]

Group 1 - The London Metal Exchange (LME) reported a decrease in tin inventory by 50 tons [1] - Aluminum inventory increased by 925 tons [1] - Copper inventory decreased by 2,175 tons [1] - Lead inventory decreased by 1,100 tons [1] - Zinc inventory decreased by 3,825 tons [1] - Nickel inventory remained unchanged [1]

》查看更多金属库存信息 | 金屋 | 阵存 | 増減 变动 | | --- | --- | --- | | 铜 | 141750 | 1 +3,550 ↑ +2.57% | | 铝 | 462800 | 1 +1,775 1 +0.39% | | 锌 | 100825 | - -3.975 1 -3.79% | | 壇 | 209082 | 1 +390 ↑ +0.19% | | 铝 | 275325 | 4 -1.175 J -0.42% | | 锡 | 1950 | 1 +5 1 +0.26% | | 铝合金 | 1500 | 0 - 0.00% | | LME库存 | | --- | | 我屋 | 库存 | 注册仓单 | 变动 | 注销仓单 | | 变动 | | 注销战比 下日吊比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 铜 | 141750 | 127475 | T +5.16% | 14275 | 1 | -15.91% | 10.07% | 12.28% | | 铝 | 462800 | 449300 | T +0.5 ...

Group 1 - The London Metal Exchange (LME) reported various changes in registered and canceled warehouse receipts for different metals [1] - Copper registered receipts totaled 127,475 tons, with canceled receipts decreasing by 2,700 tons to 14,275 tons [1] - Aluminum registered receipts stood at 449,300 tons, with canceled receipts decreasing by 525 tons to 13,500 tons [1] - Nickel registered receipts were at 198,948 tons, with canceled receipts decreasing by 144 tons to 10,134 tons [1] - Zinc registered receipts amounted to 57,075 tons, with canceled receipts decreasing by 3,975 tons to 43,750 tons [1] - Lead registered receipts reached 201,425 tons, with canceled receipts increasing by 1,550 tons to 73,900 tons [1] - Tin registered receipts were at 1,415 tons, with canceled receipts decreasing by 45 tons to 535 tons [1]