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SMM Exclusive Morning Comments (2017-11-30)
Nov 30,2017 09:56CST
price review forecast
SMM Exclusive Morning Comments (2017-11-30)

Copper: Today LME Copper is estimated to move between $6,720-6,770 per ton. Main contract 1801 of SHFE Copper is to move between 52,550-53,000 yuan per ton. Spot market will maintain a stable premium. Today premium will move between discount 140-80 yuan per ton.

Aluminium: SHFE Aluminum wandered around 14,500 for a short while and sought next direction. Overall speaking, there is still not supporting point for future rebound. The time for price drop next time depends on the time of anticipated low cost price of alumina in the market. Today it is estimated to move between 14,450-14,600 yuan per ton with spot premium of 170-130 yuan per ton.

Lead: SHFE Lead moved under pressure of moving averages. With little impetus of bulls, it may keep volatile around 5-day moving average today.

Zinc: SHFE Zinc ends 5-day consecutive finishing low with a gain due to bears’ reducing positions. With upper pressure of moving averages, the first aim of upward process is to stand above 25,000 yuan per ton. Today SHFE Zinc is estimated to move between 24,700-25,150 yuan per ton.

Tin: Last night SHFE Tin rose after dropped and finished at almost 143,000 yuan per ton. Today it is estimated to move between 142,000-143,500 yuan per ton.

Nickel: Today LME Nickel keep volatile within range. Main contract 1805 of SHFE Nickel is to move between 91,300-92,700 yuan per ton today, with spot price at 91,200-92,200 yuan per ton.

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