SMM Exclusive Morning Comments (2017-11-21)

Published: Nov 21, 2017 10:15

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SHANGHAI, Nov.21 (SMM)－

Copper: Today LME Copper moves between $6,800-6,850 per tonne. Main contracts of SHFE Copper moves between 53,100-53,600 yuan per tonne. Spot is with sufficient stock in market with light downstream consumption. Premium today is estimated to be 180-90 yuan per tonne.

Zinc: SHFE Zinc rises after drops, with great adhesive of upper 60-day and 10-day moving averages. If no news supports, upward impetus maybe limited. Today SHFE Zinc is estimated to move between 24,950-25,400 yuan per tonne.

Aluminium: SHFE Aluminium wanders around 15,000 yuan per tonnes while support of this point is not strong. It is estimated to move between 14,950-15,150 yuan per tonne today. Premium of spot moves between 140-100 yuan per tonne.

Tin: Last night SHFE Tin recognized between 5-day and 10-day moving averages. Today it is to move between 142,000-143,500 yuan per tonne.

Nickel: Today main contracts of SHFE Nickel is to move between 93,800-95,100 yuan per tonne, with spot price of 93,300-94,300 yuan per tonne.

Lead: Lead Price goes up to 19,360 yuan per tonne, with daily lowest point of 19,020 yuan. SHFE Lead finished at 19,300 yuan per tonne, up 40 yuan by 0.21% growth.

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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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