LME tin will test support from the 60-dau moving average, and will look for support from USD 20,000/mt if prices fall below this level.
price review forecast
LME aluminum will fluctuate at highs after base metals plunged yesterday, moving between USD 2,140-2,175/mt.
LME copper will fluctuate between USD 6,425-6,470/mt on Friday, and SHFE 1709 copper will drop further to RMB 49,800-50,300/mt.
LME lead will fluctuate at highs between USD 2,440-2,500/mt today.
Gold price rose. Stainless steel consumption weakened recently, with prices continuing falling and narrowing its profit.
LME zinc is expected to move between USD 3,025-3,070/mt today.
LME tin will find support at USD 20,400/mt and resistance at USD 20,900/mt today.
The US Fed decided to keep interest rate unchanged, but made hawkish statement over future rate hike and balance sheet reduction.
Copper prices rose yesterday due mainly to surging aluminum and zinc prices.
LME lead will fluctuate at highs between USD 2,420-2,470/mt today.
China’s tax department and Ministry of Environmental Protection are now coordinating closely to pave way for implementation of upcoming environmental protection tax.
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