Share

NON‑FERROUS METALS 2026–2027: Fierce Battles in the Global Arena — Navigating War, Energy, and New Supply SO OK TRADING | 30 June 2026

Last updated: 30 Jun 2026
2341 Views

Non-Ferrous Metals Market Outlook 2026–2027
The market is entering one of the most volatile periods in recent years. LME prices are swinging sharply under the pressure of war, trade tariffs, and speculative capital, forcing producers and investors to adopt cautious strategies.

 
Latest Prices (June 2026 – LME Official Price)
Copper: $13,286/ton
Aluminium: $3,162/ton
Zinc: $3,459/ton
Nickel: $16,550/ton
Lead: $1,878/ton
Tin: $50,275/ton
 
Copper
July–Q3 2026: Trading in the high range of $12,000–$13,400/ton, supported by speculation and investment in AI data centers and power grids.
2027: Likely to correct to $11,000–$11,500/ton if U.S. tariff measures are clarified and global oversupply persists.
Supportive factors: Clean energy, power infrastructure, AI
Downside factors: U.S. tariff barriers, global surplus stocks
 
Aluminium
July–Q3 2026: Stable at $3,100–$3,400/ton, supported by soaring energy costs and declining LME stocks.
2027: Expected to correct to $3,000/ton as new supply from Indonesia enters and China eases production restrictions.
Supportive factors: Geopolitical risks, high energy costs
Downside factors: New capacity from Indonesia
 
Zinc
July 2026: Stable at $3,400–$3,500/ton.
Q3 2026: Sliding to $3,100–$3,200/ton as new mines come online worldwide.
2027: Persistently low due to oversupply.
Downside factors: Five new mines globally (Russia, Congo, China, etc.)
 
Lead
July–Q3 2026: Narrow range of $1,850–$1,950/ton.
2027: Continued decline as the transition to lithium-ion batteries accelerates.
Downside factors: EVs reducing lead-acid battery use, global stocks at highest since 2012
 
Antimony
July–Q3 2026: Ongoing correction after record highs in 2025.
2027: Expected to stabilize at a new base price as supply from Southeast Asia grows and China relaxes export restrictions.
Downside factors: New smelters, buyers delaying orders
 
Nickel & Tin
Nickel: Holding above $16,000/ton, supported by EV battery and stainless steel demand, but vulnerable to rising Indonesian supply.
Tin: Trading above $50,000/ton, driven by electronics and semiconductor demand, expected to remain high.
 
⚡ Macro Factors
Middle East war (Iran): Driving up energy costs and freight rates.
U.S. tariff measures (Section 232/301): Market volatility fueled by rumors and strategic stockpiling.
Global monetary policy: Fed’s high interest rates weigh on manufacturing recovery.
 
Strategic Recommendations (2026–2027)
The non-ferrous metals market is being driven more by war, tariffs, and speculative capital than by real demand. Cost management through price locking at order placement and Hand-to-Mouth purchasing will reduce risk and improve flexibility for Thai operators.

Copper & Aluminium: Use forward contracts/hedging when orders are confirmed; avoid chasing prices during spikes.
Zinc & Lead: Buy only as needed to minimize risk from price corrections.
Antimony: Avoid long-term stockpiling as new supply is entering the market.
Nickel & Tin: Monitor demand from EVs and electronics, which remain key drivers.
 
SO OK TRADING
Your Business Partner

FAST ・ SHARP ・ RELIABLE

VISIT US AT : WWW.SOOKTRADING.COM FACEBOOK : SO OK TRADING


Related Content
“Energy Pulse 2026: Naphtha Recovery – Positive Signals from the Global Energy Crisis Toward a New Market Balance” Article by SO OK TRADING | May 18, 2026
Naphtha Crisis 2026 – Latest Situation Update Positive Outlook | SO OK TRADING Since the outbreak of the Middle East conflict in late February, the global energy market has been shaken dramatically. Crude oil prices surged past $150 per barrel, driving Asian naphtha prices to nearly double. By mid‑May, prices corrected to $897 per ton, though still 62.54% higher than last year. Even as prices begin to ease, supply chain “lag effects” remain — shipping delays of 15–20 days and congested ports due to competition for raw material shipments from the Middle East continue to pressure industries across Asia. In Thailand, SCGC declared force majeure and temporarily shut down the Rayong Olefins plant, while PTTGC and SCGC are studying the establishment of a joint venture to enhance flexibility and reduce long‑term costs. In Japan, leading snack brand Calbee announced a packaging strategy shift, reducing color printing on 14 products to black‑and‑white to cope with ink and resin shortages — reflecting the rising trend of “minimalist design” during the crisis. At the same time, recovery signals are emerging: Naphtha prices dropped from the peak of $1,020 → $897 per ton Spreads rebounded: Ethylene–Naphtha +250–280 / Propylene–Naphtha +310–330 Plastic prices remain high but show signs of stabilization If the Middle East situation does not flare up again, this crisis is expected to ease by late June – early July 2026. SO OK TRADING FAST • SHARP • RELIABLE Your Trusted Business Partner
18 May 2026
This website uses cookies for best user experience, to find out more you can go to our Privacy Policy and Cookies Policy
Powered By MakeWebEasy Logo MakeWebEasy