SHFE 1710 lead opened at RMB 19,715/mt and closed at RMB 19,840/mt, down RMB 525/mt or 2.58%.
price review forecast
SHFE 1710 zinc opened at RMB 25,755/mt today and then edged up to RMB 25,950/mt with longs rushing in.
SHFE 1801 nickel opened at RMB 87,010/mt today and then dipped to RMB 86,520/mt.
SHFE 1710 aluminum opened at RMB 16,170/mt on Friday.
During Thursday’s night session, SHFE 1709 tin fell to around RMB 144,400/mt after a low opening.
SHFE 1710 copper opened at RMB 50,750/mt and ended at RMB 51,060/mt, down RMB 190/mt.
LME tin should test support at USD 20,000/mt and resistance at USD 20,400/mt today.
LME aluminum will range USD 2,055-2,075/mt today and test support at the 5-day moving average.
Market will eye University of Michigan’s consumer confidence index for August today.
LME lead will trade at USD 2,390-2,420/mt on Friday and SHFE 1710 lead will fluctuate at RMB 19,600-20,000/mt.
Rumor has it the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held a meeting on August 7 and required all state-owned steel companies to suspend trade fina
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