Metals News
SHFE Base Metals Differentiate, with SHFE Copper Leading Gain (2017-11-14)
price review forecast
Nov 14,2017

SHANGHAI, Nov.14 (SMM)-Today nonferrous metals differentiate. SHFE Copper moves relatively weak today with 0.93% gain at closure. SHFE Nickel drops dramatically during morning session and then keep volatile with some rebound in the afternoon, ending up with a slight rise at closure. SHFE Tin keeps volatile for entire day with slight rise. SHFE Aluminium dives during session and keep volatile with a slight loss at closure. SHFE Lead goes down today with 1% drop. Ferrous metals go up across the board, with coke leading gain at nearly 3% gain. Hot-rolled coil rises over 1%. Iron Ore rises nearly 1%. RB steel and coking coal slight rise.

Zinc: SHFE Zinc keeps stable today. After zinc prices goes up, transition in three markets goes weak again. Bears are becoming stronger. With core of zinc price slightly going down and 5-day moving average supporting, it is estimated to stabilize at night. Need to focus on pport strength below.

Lead: SHFE Lead moves volatile between 60-day and 5-day moving average today. It is estimated to keep weak in night, testing 19,000 point below.

Copper: Today with s series of China’s economic data failing to meet expectation, the market is becoming less active. Copper price moves stable. In the short term need to focus on capital trends. In night see US PPI annual rate in October.

Nickel: SHFE Nickel is estimated to keep volatile this night. In night see US PPI annual rate in October.

Tin: Today see a mixed result for domestic metals market. SHFE Tin finished high but still experiences pressure with 14,400 yuan per tonne. In the short term it is estimated to keep volatile with support at 14,300 yuan per tonne. 

Aluminium: Need to focus on struggle between bears and bulls at 15,500 yuan per tonne. Maintain views of downward tendency for aluminium price.

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