According to the Galaxy Securities Research Report, the equatorial Middle East and Pacific will enter an El Niño state in May 2026. It is expected to peak from November to December and gradually decline in the spring and summer of 2027. The climate is characterized by heavy rainfall on the west coast of South America, arid Southeast Asia, and arid southern Africa. So far, there have been no large-scale mine shutdowns due to the weather. For non-ferrous metals, El Niño is mostly a partial short-term disturbance. It is more like an amplifier of the conflict between supply and demand; it is not a decisive factor in the market.

According to the Galaxy Securities Research Report, the equatorial Middle East and Pacific will enter an El Niño state in May 2026. It is expected to peak from November to December and gradually decline in the spring and summer of 2027. The climate is characterized by heavy rainfall on the west coast of South America, arid Southeast Asia, and arid southern Africa. So far, there have been no large-scale mine shutdowns due to the weather. For non-ferrous metals, El Niño is mostly a partial short-term disturbance. It is more like an amplifier of the conflict between supply and demand; it is not a decisive factor in the market.