SHFE Base Metals mostly open low, reorganizing after slightly rise in the morning session. Differentiation continues.
price review forecast
Copper prices will continue trading in recent range.
Today see a mixed open for ferrous metals. Other commodities have an obvious upward impetus. SHFE Nickel rises over 3%, leading among base metals.
LME copper will drop to USD 6,940-6,990/mt today on negative technical side, while SHFE 1712 copper will move at RMB 54,100-54,600/mt.
Today see an obvious frustration for ferrous market.SHFE Lead appears to dive at closure with over 3% loss, leading drop of Base Metals.
Most base metals fell yesterday. Copper prices corrected down further due to strong US dollar.
Barclays points out copper price may has exceeded market’s fundamentals anticipation of further powerful economic growth.
SHFE Nickel goes up before closure and finishes slight high. SHFE Lead drops over 3%, leading loss of Base Metals.
Copper prices need to take a break after big gains.
SHFE Base Metals were mixed at open today. Differentiation still exists. SHFE Copper continues to keep strong and lead gain of base metals. SHFE Zinc slumps over 2%, leading drop of base metals.
Linyi Municipal Environmental Protection Agency of Shandong province released Notice on Instructions of Production Suspension & Limit of Provincial Steel Companies during Heating Season.
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