SMM Inclusive Morning Comments (2017-12-01)

Published: Dec 1, 2017 09:11

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SHANGHAI, Dec.1 (SMM)-

Zinc: SHFE moves stable basically. Bears and bulls reduce positions alternatively with prudent attitude. Lacking in support of continuous upward tendency, today SHFE Zinc is to move between 24,800-25,250 yuan per ton.

Copper: Dropping spot price causes downstream purchasing, driving rise of premium. Whether premium can keep strong remains to be seen. Today spot premium is to move between discount 70-20 yuan per ton.

Lead: SHFE Lead opened high and moved above 10 day moving average, aiming upper 20-day moving average. With great pressure at this average, today it is to keep volatile and reorganize.

Nickel: Today main contract 1805 of SHFE Nickel is to move between 89,500-91,000 yuan per ton, with spot price between 89,000-90,300 yuan per ton. Today see China’s Caixin PMI of manufacturing industry in November.

Tin: Yesterday SHFE Tin reorganized around 141,800 yuan per ton. Today it is to move between 141,000-142,500 yuan per ton.

Aluminium: Today main contract of SHFE Aluminium is to move between 14,450-14,650 yuan per ton.

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copper

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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