Metals News
SHFE Base Metals Mostly Drop, with SHFE Zinc Leading Loss with over 2% Drop (2017-11-27)
price review forecast

SHANGHAI, Nov.27 (SMM)-Today see universal drop of all nonferrous metals in the afternoon except SHFE Tin. SHFE Zinc leading loss with over 2% drop. SHFE Nickel drops 1.52%. SHFE Lead drops 0.71%. SHFE Copper drops 0.7%. Ferrous metals get less rise amount. RB steel rises nearly 1%. Hot-rolled coil rises over 0.5%. Coke rises 0.5%. Iron ore drops nearly 0.6%. Coking coal slightly drops.

Nickel: Today Contract 1805 of SHFE Nickel loses a capital outflow of 174 million. In night SHFE Nickel is estimated to keep weak. See US new home sales in October.

Copper: Today, SHFE Copper traces a little after last week’s surge. In night it is expected to keep volatile and weak. See US new home sales in October.

Zinc: With intensified bearish emotion, SHFE Zinc is estimated to guard the psychologically significant 25,000 yuan per ton.

Tin: Today domestic commodities mostly drop. SHFE Tin moves relatively strong. With overall pressure above, in the short term it is estimated to keep volatile with downward risk.

Lead: SHFE Lead opens high but moves below all moving averages with some support at previous low point of 18,200 yuan per ton. In night it is estimated to reorganize at low level.

Aluminium: SHFE Aluminium will keep volatile within range in the short term and move downward in the medium term.

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