1,942 public, source-attributed analyses archived for November 2026. Dates use UTC. Each article links to the originating publisher. News summaries and sentiment are automated, not independent reporting or predictions about future prices.
Bitcoin rebounded above $80,000 as Tom Lee maintained a bullish outlook on crypto and Michael Saylor highlighted bipartisan support for Bitcoin.
BTC traded at $80,355, up more than 3% in 24 hours, while Saylor pointed to Bitcoin reserve support from politicians in both parties.
Continued bipartisan backing could strengthen Bitcoin's long-term adoption narrative, although Democratic control of Congress introduces uncertainty over future crypto policy.
Bitcoin recovered above $80,000 on Thursday after a midterm-driven selloff, as improving risk sentiment following the Democrats' congressional sweep lifted crypto and broader markets. U.S. spot Bitcoin ETFs attracted about $75 million on Wednesday and Ether ETFs took in $53 million, while ETH and SOL each gained nearly 4%; Democrats have also indicated opposition to the CLARITY Act. Renewed ETF demand and easing geopolitical concerns could support further crypto gains, although uncertainty over U.S. crypto legislation may limit momentum.
Asian gasoline refining margins and timespreads recovered modestly after recent losses, while naphtha margins continued to weaken amid subdued petrochemical demand. The gasoline 92 crack rose $1.46 to $8.13 per barrel, while the naphtha-Brent crack fell $12.18 to $223.35 per ton and outright gasoline and naphtha prices declined. Potentially lower Chinese gasoline exports could support regional gasoline spreads, but weak downstream demand and broader oil-market surplus concerns may limit the recovery.
Germany's DAX climbed to a fresh record high of 26,651.50 on Thursday as improved risk sentiment lifted equities, despite sharp losses in defense giant Rheinmetall. Rheinmetall plunged more than 16% after cutting its 2026 outlook for the second time in three months, citing delays in the Boxer armored vehicle program, while German factory orders rebounded 4.4% in September. Improving risk appetite could support further DAX gains, but weak construction activity and company-specific outlook cuts may limit market strength.
U.S. equity futures were mixed Thursday as weakness in semiconductor and AI infrastructure stocks weighed on Nasdaq futures, while S&P 500 futures held steady after the previous session's rally. Qualcomm plunged 10.1% after missing smartphone chip sales estimates, while Nasdaq 100 futures fell 0.63% and Dow futures gained 0.48%; UBS warned that around 30% of expected 2028 data-center additions could be at risk. Continued pressure on chipmakers and AI infrastructure stocks could weigh on the Nasdaq, although valuations nearing multi-year lows may limit further downside.
China's copper smelters are facing a deepening profitability crisis as falling sulphuric acid prices compound record-low copper processing fees, prompting maintenance shutdowns and raising the prospect of production cuts. Chinese sulphuric acid prices fell about 30% in Q3 to 1,484 yuan per ton from a July peak of 2,107 yuan, while spot copper treatment charges hit a record low of minus $246.40 per ton on October 30. Further declines in byproduct prices and processing fees could accelerate smelter cutbacks, constrain refined copper output and tighten supply.
Brent and WTI crude rebounded Thursday but remained below $100 a barrel after both benchmarks plunged more than 8% in the previous session amid hopes for reduced U.S.-Iran tensions. Brent gained 1.3% to $95.85 and WTI rose 0.3% to $87.36, while the global oil market recorded an estimated supply surplus of 1.4 million barrels a day in October. Recovering Middle Eastern exports and weaker demand could keep pressure on oil prices, although continued Strait of Hormuz security risks may limit the downside.
India's jewellery sector is expected to see sales volumes fall 4-6% in FY27, while revenue grows 21-23% as higher gold prices lift average selling values. Crisil expects gold prices to average 25-27% above last fiscal year's level, while operating margins could soften from 9.3% to 8.5-8.7% and investment demand for coins and bars declines 4-5%. Higher gold prices could support nominal jewellery revenue but may continue pressuring affordability, sales volumes and retailer margins.
Asian fuel oil markets extended their declines on Thursday as Singapore's residual fuel inventories climbed 2.4% to a six-week high of 19.14 million barrels. The 380-cst HSFO crack fell to a $1.46-per-barrel discount, while Singapore fuel oil cargo assessments dropped sharply and firm Middle Eastern inflows added to supply pressure. Rising stockpiles and expectations of greater regional supply could continue weighing on fuel oil prices, although VLSFO showed some signs of stabilization.
Malaysian palm oil futures plunged 2.69% on Thursday to their lowest closing level since March 6 as rising production expectations, swelling inventories and weaker competing vegetable oils intensified selling pressure.
The January contract settled at 4,375 ringgit per metric ton, while Malaysian palm oil inventories are forecast to increase 6.8% to 3.75 million tons, according to a Reuters survey.
Potentially higher Indonesian exports and weakening rival oil prices could extend downside pressure on palm oil ahead of Malaysia's November 10 supply and demand report.
Bitcoin's relative performance against the S&P 500 has recovered to a 50% session win rate over the latest 90 trading sessions, ending a losing streak that had persisted since March 2025.
Glassnode reports Bitcoin's average session gains are now slightly higher than the S&P 500, while historical data shows the index gained an average of 10.7% in the three months following comparable Democratic midterm sweeps.
Improving relative momentum and positive stock-market seasonality could support risk appetite, although Bitcoin's direction may remain closely tied to broader equity-market performance.
Oil prices rebounded Thursday but remained below $100 per barrel as traders weighed the possibility of U.S.-Iran diplomacy against recovering Middle Eastern supply and weakening global demand.
Brent rose 1.3% to $95.85 while WTI gained 0.3% to $87.36, following an 8%+ selloff Wednesday; meanwhile, the global oil surplus widened to 1.4 million barrels per day in October.
A potential diplomatic resolution and recovering exports could keep pressure on crude prices, although Strait of Hormuz security risks and declining U.S. fuel inventories may limit further downside.
Middle Eastern crude oil premiums have collapsed to pre-Iran-war levels as rising Gulf exports create a supply surplus and weaken regional pricing power.
Riot Platforms has signed a $28 billion AI infrastructure deal with Anthropic that could require it to pay 12% annual interest on billions of dollars in datacenter construction reimbursements, creating substantial financing costs as it pivots away from Bitcoin mining.
Indian equities extended their winning streak to six sessions, with the Sensex surging 2,008 points and the Nifty gaining 576 points on Thursday.
The Sensex closed at 79,310 and the Nifty at 24,536, while BSE-listed companies added over ₹8 lakh crore in market value as Brent crude posted a 19% weekly decline.
Lower oil prices, banking strength and selective Q2 earnings could continue supporting Indian equities, although sharp losses in several individual stocks highlight uneven market participation.
U.S. and European government bond yields tumbled to multiweek lows after Democrats won control of Congress, as investors anticipated tighter limits on U.S. fiscal expansion and a potential end to the Iran war.
The 10-year U.S. Treasury yield traded at 4.877%, while German 10-year Bund yields fell to 3.252% and Brent crude dropped to $95.20 per barrel.
Reduced fiscal-expansion concerns and lower oil prices could continue supporting longer-dated government bonds, although persistent deficits and geopolitical uncertainty remain risks.
A prolonged Iran war is the key downside risk markets may be underpricing, according to BNY Wealth strategist Alicia Levine, who says investors increasingly expect the conflict to end soon.
Brent crude is on track for its steepest weekly decline in more than six years, while longer-dated contracts have fallen below $84 a barrel; Goldman Sachs estimates Brent could average $130 in 2027 if Persian Gulf output remains 3.5 million barrels per day below its 2025 average.
If the conflict persists and disrupts regional energy supplies, oil prices could rebound sharply as markets reassess the risk premium currently priced out of futures.
Malaysian palm oil futures fell sharply, pressured by weakness in soybean oil and crude oil prices alongside concerns over record-high Malaysian inventories.
The January Bursa Malaysia Derivatives contract dropped 121 ringgit to 4,375 ringgit per ton, below the cited 4,450-ringgit support level.
Cautious sentiment ahead of the upcoming MPOB report could keep palm oil prices under pressure, although the 4,450-ringgit area may become an important technical support level.
Ethereum co-founder Vitalik Buterin warned that crypto exchanges and custodians must prioritize security and survival over competition for the next two years amid a growing wave of major hacks.
Buterin highlighted attacks targeting user interfaces and centralized infrastructure rather than smart contracts, warning that continued breaches could trigger stricter regulatory requirements.
The warning could accelerate security investments across centralized crypto platforms while increasing regulatory pressure on exchanges and custodians.
Asian fuel oil benchmarks and refinery margins slumped as traders priced in the possibility of Middle East supply returning if the Iran war de-escalates.
The 380-cst HSFO Dubai crack swung from a $5.34-per-barrel premium at the start of the week to a $2.29 discount, while UAE fuel oil exports to Singapore and Malaysia reached an eight-month high of 729,000 metric tons in October.
Elevated tanker freight costs and expectations of tighter November arrivals could provide support and trigger a partial recovery in Asian fuel oil prices.
U.S. equity futures turned mixed Thursday as technology stocks faced renewed AI-regulation concerns following Wednesday's broad market rally, with Nasdaq-100 futures falling around 1% while Dow futures gained 0.5%.
AppLovin surged around 18% premarket after reporting 55% year-over-year revenue growth, while Apple crossed a $5 trillion valuation and Micron, Nvidia and Tesla faced selling pressure.
Potential tighter AI regulation and uncertainty surrounding data center investment could intensify volatility across semiconductor and AI-related stocks, even as strong corporate earnings provide selective support.
U.S. Treasury, German Bund and U.K. gilt yields tumbled to multiweek lows after Democrats' midterm victory fueled expectations of tighter U.S. fiscal constraints and a sharp decline in oil prices.
Brent crude fell below $100 to $95.20, while the U.S. 10-year and 30-year Treasury yields traded at 4.877% and 5.256%, respectively.
Reduced fiscal expansion risks and lower energy prices could continue supporting long-dated government bonds, although persistent deficits and geopolitical uncertainty may limit further gains.
Pension funds and other long-term allocators should not base their Bitcoin investment strategies on which party controls Congress, according to Cartwright investment consulting director Sam Roberts.
Roberts argues that supportive U.S. legislation is only a marginal factor and that persistent fiscal deficits could strengthen the investment case for scarce assets such as Bitcoin and gold.
Continued institutional interest independent of political changes could support Bitcoin's long-term investment demand.
Asian diesel cash differentials and prompt timespreads rebounded on Thursday, supported by emerging regional buying interest and expectations of slightly lower Chinese exports.
Cash differentials recovered to a premium of nearly $0.50 per barrel, while refining margins eased below $61 per barrel and the December jet fuel regrade flipped to a discount.
Reduced Chinese diesel exports and stronger regional buying could support near-term diesel pricing, although weakening refining margins and broader oil-market surplus conditions may limit gains.
The European Union sold 2.792 million spot carbon permits at 90.01 euros per tonne in its Thursday auction on EEX.
The auction covered 2,791,500 EU allowances, with a cover ratio of 1.55.
The auction results could provide a near-term signal for demand and pricing in the European carbon market.
Global AI stocks extended their selloff as investors assessed the potential impact of the US Democratic election sweep on data-center expansion, while Treasury yields fell to eight-week lows and gold climbed above $4,100.
Nasdaq futures dropped 0.7%, Samsung and SK Hynix fell 7.5% and 9.5%, respectively, while Dow futures gained 0.4% and Brent traded around $95 per barrel.
A slowdown in data-center investment could further pressure AI infrastructure and semiconductor stocks, while lower energy prices and falling yields may continue supporting broader risk sentiment and gold.
Arthur Hayes warns that large insider share unlocks at SpaceX, Anthropic and OpenAI could trigger heavy dilution, pressure AI valuations and tighten credit conditions, but argues a future central-bank bailout could ultimately benefit Bitcoin and crypto.
Hayes projects SpaceX's public float could expand by another roughly 50% by June 2027, while he points to OpenAI's reported fundraising target and valuation cuts as signs of pressure across the AI sector.
If an AI-driven credit squeeze eventually prompts central-bank liquidity injections, Bitcoin could benefit over the longer term, although Hayes cautions investors to be patient.
Middle East crude benchmarks Oman and Dubai rebounded from roughly two-month lows, with Cash Dubai's premium to swaps rising 65 cents to $1.55 a barrel.
Despite Thursday's recovery, premiums remain near pre-war levels as ample supplies weigh on the market, while falling oil futures have reduced refiners' overall purchase costs.
Continued supply abundance and expectations of reduced US-Iran war escalation could limit further gains in Middle East crude premiums.
Brent crude plunged 8.3% below $100 per barrel and WTI fell to around $88.12 as South Korea's election-driven political shift raised hopes of de-escalation in the US-Iran war, potentially easing pressure on global fuel markets.
US gasoline averaged $4.12 per gallon, around 39% above pre-conflict levels, while US diesel futures dropped nearly 7% to their lowest level since late August.
Further diplomatic progress could accelerate oil and fuel price declines, but renewed military escalation could reverse the selloff and reignite inflationary pressure.
German and French day-ahead electricity prices surged as falling wind generation, higher demand and reduced French nuclear output tightened power supply, with French prices reaching their highest level since December 2022.
German baseload prices climbed 6.9% to €269.30/MWh, while French prices gained 6.3% to €272.50/MWh; French wind generation is forecast to fall by 2.75 GW to just 0.40 GW.
Continued weakness in renewable generation and tighter supply could sustain near-term electricity price pressure, although falling natural gas prices may weigh on longer-dated power contracts.
Global AI stocks extended their selloff as investors assessed the potential impact of Democratic election victories on U.S. data-center expansion, while Treasury yields fell to eight-week lows and Bitcoin climbed above $80,000.
Samsung Electronics and SK Hynix plunged 7.5% and 9.5%, respectively, as Nasdaq futures dropped 0.7%, while Brent crude remained near $95 per barrel and gold recovered above $4,100 an ounce.
Potential restrictions on AI infrastructure expansion could intensify pressure on semiconductor and cloud stocks, while falling yields and renewed risk appetite may support Bitcoin and broader markets.
Global markets diverged after the US midterm 'blue wave', with crude oil plunging nearly 9% overnight and Brent falling below $100 for the first time in two months as investors priced in hopes of an end to the US-Iran war.
The Philadelphia Semiconductor Index dropped 3.1% as AI infrastructure scrutiny weighed on chip stocks, while the S&P 500 gained 1.6% and gold surged 5% in two days to above $4,100 an ounce.
Political pressure to de-escalate the Iran conflict could keep oil prices under pressure, while uncertainty around AI infrastructure regulation may intensify volatility in semiconductor stocks.
Dutch and British natural gas prices edged lower as U.S. midterm election results eased market fears of further escalation in the U.S.-Israeli war against Iran. The Dutch front-month TTF contract fell to €86.72/MWh, extending its decline to around 17% from last week's high above €104/MWh, while the British benchmark also slipped.
Qualcomm Inc (NASDAQ: QCOM) said its China Android business bottomed in the June quarter and has grown sequentially since, according to the supplied summary. The company is also raising prices while still losing Apple revenue and faces skepticism over the handset outlook. The update presents a mixed factual picture for Qualcomm: sequential improvement in China Android is set against higher prices, the ongoing loss of Apple revenue, and concerns about handsets. Apple is the customer tied to the revenue loss described in the material, while Qualcomm’s China Android exposure is the segment cited as having bottomed and grown sequentially. No specific price move, trading volume, capital flow, or valuation data was provided in the source.
US spot Bitcoin and Ether ETFs attracted a combined $127.6 million in inflows on Wednesday, ending prolonged withdrawal streaks as crypto markets rebounded after the midterm elections. Bitcoin ETFs received $74.6 million, reversing three consecutive sessions of $1.16 billion in outflows, while Ether ETFs attracted $53 million after seven sessions of $657 million in withdrawals. Renewed institutional demand could support further BTC and ETH recovery, although continued IBIT outflows highlight persistent institutional selling pressure.
Bitcoin sentiment has rebounded sharply following the U.S. midterms, with traders significantly increasing bets on BTC holding above $80,000 by Friday. Derive.xyz traders now assign a 55% probability to Bitcoin finishing above $80,000, up from 5% at the overnight low, while odds of exceeding $100,000 by Christmas climbed to 5% from 3.5%. The recovery could support further upside, although its sustainability remains uncertain once short covering and hedge unwinding fade.
Asian technology and semiconductor stocks tumbled as concerns over tighter U.S. AI and data-center regulations raised fears of slower infrastructure investment and weaker chip demand.
South Korea's Kospi plunged 5.28%, with SK Hynix falling 9.5% and Samsung Electronics dropping 7.6%, while Japanese chip equipment stocks also suffered heavy losses.
Potential restrictions on AI infrastructure expansion could further pressure semiconductor stocks and intensify volatility across the global technology sector.
The Trump-Putin deal to import Russian diesel into the U.S. is at risk as two tankers originally bound for American ports have changed course, threatening a potential source of fuel supply relief.
Three tankers were initially expected to reach U.S. ports, but two have diverted or moved away from the Atlantic route as regulatory, legislative and sanctions concerns deter buyers, while U.S. fuel inventories fell 3.6 million barrels to 99.3 million barrels, their lowest level since May 2003.
Further tanker diversions could intensify U.S. diesel supply concerns and put additional upward pressure on domestic fuel prices.
Oil prices remain near a two-month low after plunging more than 8% as US midterm results raised hopes of diplomatic efforts to end the Iran war.
Brent recovered 0.5% to $95.07 a barrel, while WTI slipped 0.1% to $88.02; Senate Democratic leader Chuck Schumer said Democrats would seek to end the conflict, citing Congress's control over federal spending.
If diplomatic progress reduces geopolitical supply risks, crude could face further downside, although ING analysts warn the selloff may have been overdone and the outcome remains uncertain.
Gold and silver prices rebounded ahead of India's Dhanteras festival as a weaker US dollar and falling Treasury yields renewed demand for precious metals following sharp corrections from record highs.
MCX December gold futures gained 1.11% to ₹1.44 lakh per 10 grams, while silver advanced 0.12% to ₹1.87 lakh per kg; Motilal Oswal maintains a medium-term gold target of $4,500-$4,700 per ounce.
Continued safe-haven demand and festive buying could support precious metals, although Federal Reserve rate expectations and silver's higher volatility may trigger further price swings.
Indian jewellery stocks rallied as gold and silver prices surged following the Democratic victory in the US midterm elections, supported by a weaker dollar and falling Treasury yields.
Senco Gold gained 3.7%, PC Jeweller rose 3.2%, and Titan advanced 2.3%, while global spot gold climbed 1.9% to $4,134.83 per ounce and Indian equities rallied around 2%.
Continued dollar weakness and declining Treasury yields could support precious metals and jewellery stocks, although expectations of a December Federal Reserve rate hike could limit further gains.
Singapore's oil product inventories remained broadly stable at 38.25 million barrels as rising residual fuel stocks offset declining middle and light distillate inventories.
Residual fuel inventories climbed 2.4% to 19.14 million barrels, a six-week high, while middle distillates fell to an approximately two-month low of 8 million barrels.
Strong Middle Eastern fuel oil inflows and shifting Asian product flows could influence regional fuel supply balances, while growing Northeast Asian cargoes may alter inventory trends in the coming weeks.
UK government bond yields fell to multi-month lows as declining oil prices eased inflation fears and reduced expectations for further Bank of England rate hikes.
The 10-year gilt yield dropped to 5.101%, its lowest since August 28, while the 30-year yield fell to 5.554%; markets reduced projected BOE rate increases through end-2027 from 105 to approximately 95 basis points.
Further oil price weakness could support UK government bonds by easing inflation and monetary tightening pressures, although the expected near-term BOE rate hike remains a risk.
Euro zone government bond yields declined as easing oil prices and reduced expectations of further escalation in the Iran war helped ease pressure on inflation and interest-rate expectations.
Germany's 10-year yield fell 1.8 basis points to 3.2689%, while markets reduced the probability of a December ECB rate hike to around 64% as Brent crude held near a two-month low at $94.87 per barrel.
Further easing in energy prices could support European bonds by reducing inflation and tightening pressures, although euro zone inflation remains elevated at 4% and French political unrest poses additional risks.
London-listed mining stocks rallied as easing oil prices reduced cost and inflation pressures while gold climbed to a two-week high, lifting precious-metal producers.
Hochschild Mining and Fresnillo gained 5% each, Endeavour Mining rose 6.3%, and gold futures advanced 1.5% to $4,132.50 per ounce as the dollar weakened and Treasury yields declined.
Lower energy costs and softer rate-hike expectations could support mining equities and precious metals, although persistent inflation concerns and Middle East developments remain key risks.
China's November diesel exports could fall below 800,000 metric tons as depleted domestic inventories force refiners to prioritize local fuel supplies, potentially marking the lowest export volume since July.
Refiners have sold only around 500,000 tons for November loading so far, while domestic diesel stocks dropped to 11.1 million tons by the end of October, their lowest level since records began in 2011.
Reduced Chinese exports could tighten global diesel supply and support refined fuel prices, particularly if domestic shortages continue limiting export availability.
Copper prices edged lower as investors assessed whether Democratic gains in the U.S. midterm elections could threaten data-center expansion and weaken a key source of industrial metal demand.
Three-month LME copper futures slipped 0.1% to $13,996 per metric ton, while Democrat candidates in Texas, Georgia and Ohio pledged to crack down on data-center construction.
Potential restrictions on data-center development, particularly in Texas, could pressure copper demand expectations and increase downside risks for prices.
Indian jewellery stocks rallied as gold surged nearly 2% to a two-week high following the Democratic victory in the US midterm elections, a weaker dollar and declining US Treasury yields.
Senco Gold gained 3.7%, PC Jeweller advanced 3.2% and Titan rose 2.3%, while silver climbed 1.7% and foreign investors injected approximately ₹17,235 crore into Indian equities over three trading sessions.
Continued dollar weakness and declining Treasury yields could support further gains in precious metals and jewellery stocks, although expectations of a December Fed rate hike could limit the upside.
European benchmark natural-gas prices fell 2% to 86.36 euros per megawatt-hour, reaching their lowest level in more than two weeks as hopes for a diplomatic resolution to the Iran war pressured energy markets.
Dutch TTF prices extended Wednesday's losses after exceeding 100 euros in late October, while Middle Eastern LNG flows remain constrained and European gas storage withdrawals are beginning.
A faster recovery in Persian Gulf LNG exports could deepen the price decline, while colder European weather and continued supply disruptions could reverse the downward pressure.
OpenAI says its AI identified 948 Linux kernel vulnerabilities and developed working attacks for each, highlighting the growing ability of AI to uncover exploitable weaknesses across critical infrastructure.
The flaws could allow attackers with limited access to take full control of Linux machines, while Ethereum infrastructure is exposed through its reliance on Linux, with roughly two-thirds of nodes reportedly using the operating system.
AI-driven vulnerability discovery could intensify cybersecurity risks for blockchain infrastructure while accelerating defensive security improvements across the crypto industry.
Gold surged 1.6% to $4,124.89 per ounce, reaching its highest level in more than two weeks as a weaker U.S. dollar and falling Treasury yields supported bullion after the midterm elections.
Gold gained approximately 3.4% on Wednesday, its biggest daily advance since August 19, while the dollar fell to a more than one-month low and the 10-year Treasury yield hit its lowest level since September 10.
Continued dollar weakness and declining yields could push gold toward $4,200 and potentially $4,400, although inflation concerns and upcoming U.S. jobs data could create volatility.
Gold futures climbed 1.5% to a two-week high of $4,132.50 per ounce as a weaker U.S. dollar and falling Treasury yields boosted demand following the U.S. midterm elections.
Falling oil prices provided additional support, while silver gained 0.4% to $52.52 and platinum advanced 1.3% to $1,517.10.
Gold could receive further support from continued dollar weakness and declining yields, although inflation concerns and Middle East developments could limit its upside.
Chinese steel rebar futures rebounded to around CNY 3,040 per ton from near three-month lows as improving profit margins and stronger equity markets supported prices.
The World Steel Association now forecasts global steel demand to contract 0.1% this year, while China's 2026 consumption is projected to fall 2% amid a prolonged property downturn.
India's projected demand growth of 7.9% in 2026 could provide a partial offset, but weakening global and Chinese demand may limit the steel recovery.
UK natural gas prices fell to 211 pence per therm, extending weekly losses beyond 18% and reaching their lowest level in more than two weeks.
Growing optimism over US-Iran diplomatic efforts and reduced concerns about further military escalation have eased energy-market risk premiums.
However, declining UK production, reliance on Norwegian pipeline gas and LNG imports, and limited storage capacity could leave prices vulnerable to renewed geopolitical or winter supply disruptions.
CBOT December wheat may retest resistance at $6.05 per bushel after rebounding from support near $5.90-3/4, with technical signals pointing to a potential trend reversal.
Hourly MACD bullish divergences support the rebound, while immediate support stands at $5.99-1/2 and a stronger resistance target lies at $6.13-1/4.
A sustained move above $6.13-1/4 could signal a broader reversal of the downtrend from $7.06-1/2, while a break below immediate support may renew downside pressure.
Zinc futures held above $3,800 per tonne near a one-month high as tightening mine supply and potential smelter disruptions heightened concerns about refined metal availability.
Operational incidents at Korea Zinc, Kazzinc and YoungPoong’s Seokpo smelter, alongside record-low treatment charges, have raised the risk of production cuts.
A recovery in Chinese mine output and improved concentrate availability could ease supply tightness and cap further zinc gains.
Nickel rebounded from near a 10-month low to trade around $16,100 per tonne as expectations of tighter Indonesian supply improved the longer-term outlook.
Indonesia is considering more aggressive production quota cuts for 2027, while potential output reductions by major producers Huayou and Tsingshan could further moderate supply growth.
Persistent oversupply, elevated exchange inventories and slower-than-expected battery demand could limit the recovery unless supply restrictions materialize.
The U.S. dollar remains under pressure after the Democratic midterm sweep, with the DXY index down 0.2% at 101.413 after touching a one-month low.
Brent crude fell to $93.22 per barrel amid hopes for progress toward resolving the Iran conflict, while concerns about slower AI investment and reduced fiscal stimulus weighed on the dollar outlook.
Continued dollar weakness could support other currencies and ease pressure on U.S. Treasury yields, though the broader economic and geopolitical outlook remains uncertain.
Iron ore futures climbed toward CNY 690 per ton, reaching a four-week high as improving steelmaking profitability strengthened market sentiment.
Imported iron ore margins turned positive at CNY 2.36 per ton, while improved steelmaking margins raised expectations of increased hot metal production.
However, rising global mining supply and reduced Chinese hot metal output could limit further iron ore gains.
Brent crude oil climbed 0.6% to $95.19 per barrel, extending gains in the global oil market.
The reported price increase highlights renewed upward movement in Brent crude, although no specific market drivers are provided.
Further gains could strengthen bullish momentum in oil markets and increase energy price pressures.