Last Friday evening, LME copper opened at $9,496.5/mt and initially dipped slightly before rising to a high of $9,515.5/mt.

Last week, the US election results were announced, confirming Trump's election as the President of the United States.

Last Friday, LME lead opened at $2,031.5/mt.

Last Friday, LME zinc opened at $3,063/mt, initially touched $3,071/mt, then fluctuated downward, hitting a low of $2,970/mt near the close, and finally closed down at $2,984/mt, a drop of $87/mt or 2.83%.

Last Friday evening, LME copper opened at $9,496.5/mt and initially dipped slightly before rising to a high of $9,515.5/mt.

Last week, refined nickel prices fluctuated upward, ranging from 124,000 to 130,000 yuan/mt.

Last Friday night, the most-traded SHFE aluminum 2412 contract opened at 21,490 yuan/mt, reaching a high of 21,630 yuan/mt and a low of 21,440 yuan/mt, and closed at 21,530 yuan/mt, down 140 yuan/mt from the previous close, a decrease of 0.65%.

【SMM Analysis：Cobalt sulphate production continued to decline in October】In October, China's cobalt sulphate production decreased by 1% MoM and 28% YoY.

The first trading week of November is coming to an end. Despite the transition between traditional peak and off-peak seasons, the main impact of poor transportation in Xinjiang has led to a continued strong destocking performance for domestic aluminum ingots since the "September-October peak season."

According to preliminary statistics by SMM, China's aluminum plate/sheet and strip production in 2024 is expected to reach 13.1 million mt, an increase of about 692,000 mt, with a growth rate of approximately 6%.