At the opening of the morning session, most domestic futures contracts rose, with fuel oil up over 5%, low-sulfur fuel oil (LU) up nearly 2%, and asphalt, soda ash, liquefied petroleum gas (LPG), iron ore, urea, and polyvinyl chloride (PVC) up over 1%. On the downside, lithium carbonate fell over 3%, starch, benzene, apples, and coking coal fell over 1%, and TSR20 rubber, rapeseed oil, and ethylene glycol (EG) fell nearly 1%.

[Investment Banks: Copper Supply and Demand Will Tend to Balance in 2027, While Aluminum May Face Oversupply] According to foreign media reports, after market turmoil triggered by higher-than-expected US inflation and a sell-off in AI technology stocks, sentiment in the industrial metals market recovered last Friday. LME copper rose slightly, ending a three-day losing streak, while aluminum futures rebounded 0.8% from their year-to-date lows. On the driving side, Federal Reserve Chairman Kevin Warsh's speech in Bangkok did not dispel market expectations that the Fed would hold rates steady in October, easing concerns about short-term rate hikes. Meanwhile, potential tariff expectations led to copper spot inflows into the US, tightening external supply. However, institutional assessments remain cautious. Fitch's BMI pointed out that a tight monetary environment will limit the upside potential for metals, and Citigroup also maintained a "short-term neutral" attitude towards copper and aluminum for the next three months, expecting prices to fluctuate narrowly and predicting that with supply growth next year, copper supply and demand will tend to balance in 2027, while aluminum may face oversupply.

Japanese Prime Minister Sanae Takaichi: Plans to moderately control the issuance of Japanese government bonds.

Japanese Prime Minister Sanae Takaichi: There is currently no predetermined position on whether the government will compile a supplementary budget.

Bank of Japan Governor Kazuo Ueda: If fiscal spending can successfully boost Japan’s supply capacity for goods, in the long run, this will in turn help to curb inflation.

Bank of Japan Governor Kazuo Ueda: Fiscal spending boosts demand and drives up prices and wages.