Rubber and Aluminum Prices Under Pressure and Decline
On June 25, the commodity market overall came under pressure, with rubber and aluminum prices showing significant declines. Regarding rubber, the peak season brought expectations of loose supply; combined with a sharp drop in crude oil dragging synthetic rubber costs, rubber prices came under pressure and made large corrections. Regarding aluminum prices, a strong dollar suppressed the valuation of the non-ferrous sector; combined with the US-Iran agreement triggering expectations of resumed production at suspended aluminum plants in the Middle East, Shanghai aluminum came under pressure and retreated.
Nickel Ore Transport Costs May Rise
Notably, the July window period for Indonesia nickel ore quotas is about to open, and the market is focusing on nickel basic support conditions. Additionally, the Global Container Freight Rate Index rose 5% to its highest level since September 2024; Drewry expects freight rates to continue rising in the coming weeks, which may affect transport costs for commodities such as nickel ore.