HSBC: Due to weak zinc demand and medium-term growth in mineral supply, there will be a surplus in 2023 and 2024; the market is expected to be close to balance by 2025.

HSBC: The copper market is expected to be in deficit in 2024 (previously expected to be in surplus), mainly due to reduced mine supply forecasts. The copper market is expected to turn into a surplus in 2025-26 and then into a structural deficit.

HSBC: Lowered its zinc price forecast by 3% to US$1.27 per pound in 2024 (previously US$1.31 per pound). Prices from 2025 to 2027 will remain unchanged, and the price in 2028 is expected to be US$1.30 per pound.

HSBC: It has raised its copper price forecast by 1-7% from 2024 to 2027, and expects the copper supply glut to decrease during this period.

HSBC: The London Metal Exchange (LME) aluminum price is expected to remain range-bound, maintaining the LME aluminum price forecast for 2024/2025 at US$2,300 and US$2,400 per ton.

HSBC: Lowers its average nickel price forecast from 2024 to 2027 by 1-12%, and sets the nickel price forecast in 2028 at US$8.45/lb.

HSBC: Platinum, rhodium, zinc and copper are the preferred metals, while iron ore and coking coal remain the least favored metals, moving gold from neutral to least favored.

Guggenheim Chief Investment Officer Anne Walsh: Worry about regional banks.

Anne Walsh, chief investment officer of Guggenheim: The basic situation is that interest rates will be cut sooner or later.

Erdoes, head of JPMorgan Chase’s asset and wealth management department: AI has many negative impacts, but they must be accepted.

UBS CEO: Climate transition is a political issue, not a regulatory issue. Banks should not dominate the climate transition debate.

Market News: Former Turkish Central Bank Governor Uysal joins cryptocurrency exchange CoinTR.

Swiss National Bank President Jordan: There are sufficient conditions at present, but the situation may change.

Swiss National Bank President Jordan: The appreciation of the Swiss franc has driven down inflation in Switzerland.

Swiss National Bank President Jordan: The Swiss franc is stronger now and this needs to be considered.

Polish central bank official Wnorowski: There may be a limited number of interest rate cuts in 2024.

UBS CEO: Regulators did not foresee digital liquidity risks.

Jordanian Military: The military field hospital in Khan Younis in Gaza was severely damaged due to Israeli shelling of the surrounding area, and the responsibility lies with Israel.

Thai police: An explosion occurred at a fireworks factory in Thailand, killing about 20 people.

Spanish Prime Minister Sanchez: Spain hopes to reform the defense industry.