Nonferrous metals saw mixed trading this afternoon with aluminium and copper registering small increment. The ferrous complex stayed bearish across the board.
price review forecast
Exclusive: SMM Morning Comments (Dec 14)
Most of the nonferrous metals traded up today except for tin, which dropped more than 2% at closure
China's domestic rare earth market saw more trading actions this week, preventing prices from falling further.
Exclusive: SMM Morning Comments (Dec.12)
Nonferrous metals traded up while ferrous market saw mixed performance.
Barclays will raise copper price forecast in 2018 from $5,725/mt to $6,175/mt, the bank said on Tuesday.
Today nonferrous metals keep a weak tendency. SHFE tin led the drop with over 1% loss. SHFE nickel dropped nearly 1%. SHFE lead dropped 0.72%.
The bank raises copper price expectation from $2.8 per pound to $2.95 per pound. Hence, the bank predicts the country’s copper export in 2018 will rise 9.6% to $76.4 billion on yearly basis.
Today nonferrous metals kept mixed. SHFE Nickel moved volatile and went up with 1.47% gain at closure. SHFE Copper, Aluminium, Zinc slightly rose. SHFE Lead dropped over 1%.
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