SHFE Nickel Gains Over 3%, Leading Base Metals (2017-10-13)

Price Review & Forecast 05:24PM Oct 13, 2017 Source:SMM

SHANGHAI, Oct. 13 (SMM)-Today see a universal staring high of ferrous metals, which keeps strong and volatile during morning session. Afternoon see a apparent power of rise and all gaining high at closure. Coking coal rises over 7%, RB Steel rises over 6%, hot rolling steel rises nearly 6%, iron ore and coke rises over 5%.

SHFE Base Metals mostly continues strong tendency of night session yesterday with slight rise in afternoon. Only SHFE Lead see a volatile drop after rise in mooring session and slight gains at closure. SHFE Nickel gains over 3%, leading Base Metals.

Copper: This huge rise has not been adjusted till now, which is estimated to take profits for some extent. Need to focus on US CPI data in September during night.

Nickel: SHFE Nickel is expected to move strongly with probable resistance at 93,000 yuan per tonne. Need to focus on link index of US CPI data in September during night.

Tin: Today see a universal rise of domestic commodities, with ferrous metals surge. SHFE Tin has the above resistance of 148,000 yuan per tonne without breaking the volatile range. It is estimated to keep volatile and seek direction in the short term.

Zinc: SHFE Zinc rises before drops with core moving above 5-day average. It is expected to move around 26,200 yuan per tonne, following tightly with 5-day average during night session.

Lead: The 5-day and 10-day moving average cross above for SHFE Lead, with strong resistance for rising. It is expected to retrace in the short term. Continue to test 20-day moving average below.

Aluminium: The production limit policy continues to affect but anticipated bearish energy given to the market is limited, with intense struggle between bears and bulls, bearish effect still exists in the short term. SHFE Aluminium is expected to move its core upward, keeping volatile between 16,550-17,200 yuan per tonne. Not recommended to purchase at high points.


For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Key Words:  copper   aluminium   lead   zinc   tin   nickel 

SHFE Nickel Gains Over 3%, Leading Base Metals (2017-10-13)

Price Review & Forecast 05:24PM Oct 13, 2017 Source:SMM

SHANGHAI, Oct. 13 (SMM)-Today see a universal staring high of ferrous metals, which keeps strong and volatile during morning session. Afternoon see a apparent power of rise and all gaining high at closure. Coking coal rises over 7%, RB Steel rises over 6%, hot rolling steel rises nearly 6%, iron ore and coke rises over 5%.

SHFE Base Metals mostly continues strong tendency of night session yesterday with slight rise in afternoon. Only SHFE Lead see a volatile drop after rise in mooring session and slight gains at closure. SHFE Nickel gains over 3%, leading Base Metals.

Copper: This huge rise has not been adjusted till now, which is estimated to take profits for some extent. Need to focus on US CPI data in September during night.

Nickel: SHFE Nickel is expected to move strongly with probable resistance at 93,000 yuan per tonne. Need to focus on link index of US CPI data in September during night.

Tin: Today see a universal rise of domestic commodities, with ferrous metals surge. SHFE Tin has the above resistance of 148,000 yuan per tonne without breaking the volatile range. It is estimated to keep volatile and seek direction in the short term.

Zinc: SHFE Zinc rises before drops with core moving above 5-day average. It is expected to move around 26,200 yuan per tonne, following tightly with 5-day average during night session.

Lead: The 5-day and 10-day moving average cross above for SHFE Lead, with strong resistance for rising. It is expected to retrace in the short term. Continue to test 20-day moving average below.

Aluminium: The production limit policy continues to affect but anticipated bearish energy given to the market is limited, with intense struggle between bears and bulls, bearish effect still exists in the short term. SHFE Aluminium is expected to move its core upward, keeping volatile between 16,550-17,200 yuan per tonne. Not recommended to purchase at high points.


For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Key Words:  copper   aluminium   lead   zinc   tin   nickel