SMM Exclusive Morning Comments (2017-11-20)

Published: Nov 20, 2017 09:16

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Copper: With sufficient supply of spot market and inflow of imported copper, downstream hopes to buy in with lower price. The premium today is estimated to keep at 160-90 yuan per tonne.

SHANGHAI, Nov.20 (SMM)－

Copper: With sufficient supply of spot market and inflow of imported copper, downstream hopes to buy in with lower price. The premium today is estimated to keep at 160-90 yuan per tonne.

Aluminium: Main contract of SHFE Aluminium keeps weak. It is estimated to move between 15,250-15,500 yuan per tonne with spot premium at 150-110 yuan per tonne.

Zinc: SHFE Zinc has less upward tendency than LME Zinc. With upper various strong moving averages pressure and support of recovery of market consumption. SHFE Zinc is estimated to move between 25,000-25,480 yuan per tonne.

Tin: SHFE Tin keeps volatile at low level with great resistance of various moving averages. Today it is estimated to move between 142,000 and 143,500 yuan.

Nickel: Today main contract of SHFE Nickel is expected to move between 93,000 and 94,300 yuan, with spot price at 92,600-94,200 yuan per tonne.

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copper aluminium zinc tin nickel

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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