SHFE Zinc Rises over 1%, Leading Gain among Base Metals (2017-11-13)

SHANGHAI, Nov.13 (SMM)－Today see a slight increase across the board at daytime closure. SHFE Zinc rises over 1%, leading gain among base metals. SHFE Lead and Nickel rise nearly 1%. SHFE Tin, Copper, Aluminium all gain slightly. Ferrous metals differentiate. Hot-rolled coil leading gain with over 2% rise. Iron ore rises over 1%. RB steel rises nearly 1%. Coking coal slightly rises. Coke leading loss with 2% drop.

Nickel: Today SHFE Nickel loses a 196 million capital outflow. China’s M0-M2 money supply in October fails to reach anticipation and previous figure. In night SHFE Nickel is estimated to keep volatile at high level. There is little macroeconomic news in night.

Tin: Today see a universal rise for nonferrous metals. SHFE Tin keep volatile at high level since rise of last Friday. With upper pressure, the resistance is around 144,000 yuan per tonne.

Copper: Today SHFE Copper rises after drops, making up drop amount of last Friday. Generally speaking, copper price is estimated to keep volatile in the short term. There is little macroeconomic news in night.

Lead: SHFE Lead is stressed by 60-day moving average. With obvious upward resistance in night, SHFE Lead is expected to keep volatile within range.

Zinc: SHFE Zinc keeps stable today, basically standing above all moving averages. With difficulty in getting above 16,000 point, SHFE zinc may probably go weak if foreign market becomes weak in night.

Aluminium: Since there is little potential good news from policy, investing capital is seeking opportunities for escape. In the short term it is estimated to keep struggling at about 15,500 yuan per tonne, with more possibilities to go down in the middle term.

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