SMM Exclusive Morning Comments (2017-11-23)

Published: Nov 23, 2017 09:33

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SHANGHAI, Nov.23 (SMM)－

Copper: Premium of spot has stabilized gradually. Downstream are more willing to stocking up now. Today the discount is estimated to move between 150-70 yuan per tonne.

Zinc: SHFE Zinc continues struggling tendency. With light transaction, SHFE Zinc is expected to move around 25,450-25,900 yuan per tonne today.

Nickel: LME Nickel is expected to reorganize today. Main Contract 1805 of SHFE Nickel is to move between 95,000-96,200 yuan per tonne.

Tin: Last night SHFE Tin did not follow dropping tendency but rise slightly, with closing to 143,000 yuan per tonne. Today it is estimated to move between 142,000-143,500 yuan per tonne.

Aluminium: Keep views of weak aluminium price. It is estimated to move between 14,950-15,200 yuan per ton, with discount of spot at 140-100 yuan per tonne.

Lead: SHFE Lead rushed high and drops, breaking 20-day and 5-day moving average, In daytime session it is expected to test support effectiveness of 20-day and 5-day moving average below.

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