Metals News
SHFE Nickel Leading Gain with over 1% Rise, SHFE Tin Leads Loss (2017-11-07)
price review forecast

SHANGHAI, Nov.7 (SMM)-Today see a ferrous metals leading rise. Coke surges 3.71%, iron ore rises over 3%. Cokinf coal rises nearly 3%, RB steel and hot-rolled roil rises slightly. Nonferrous metals differentiate again, SHFE Nickel leading gain with over 1% rise. SHFE Lead and Copper rise slightly. SHFE Tin leads drop across the board today, followed by SHFE Aluminium and Zinc, with less than 1% drop.

Copper: SHFE Copper rises after drop today. With moving averages being adhesive, support is quite strong. Copper price is estimated to keep volatile within range in the short term.

Nickel: SHFE Nickel lost a 308 million capital outflow today. It is estimated to keep volatile in night.

Aluminium: Aluminium price is keep weak and volatile in the short term. There will be further downward space of price core after repetition around 16,000. Appropriate short selling within short term is practicable.

Tin: Today see a universal rise of domestic commodities, with mixed results for SHFE Base Metals. SHFE Tin maintain weak performance, with current below support of 141,000 yuan per tonne. It is estimated to keep weak in the short term.

Lead: SHFE Lead is supported by 5-day moving average. SHFE Lead is adjusted itself gradually. In night it may slightly rise upward.

Zinc: SHFE Zinc moves weak today. With poor consumption. Bears have more confidence. Below 5-day moving average is broken completely. In night need to pay attention to adhesive support strength of below 10-day and 20-day moving average.

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