Exclusive: SMM Morning Comments (Dec.6)

Price Review & Forecast 11:05AM Dec 06, 2017 Source:SMM

SHANGHAI, Dec.6 (SMM)-

Copper: LME Copper is expected to move between $6,500-6,560 per ton. Main contract 1802 of SHFE Copper is to move between 51,000-51,600 yuan per ton. For spor market, downstream tend to replenish stock after copper price slumped. Premium is expected to keep firm today from flat to 60 yuan per ton.

Aluminium: Today SHFE Aluminium may temporarily stop dropping at 14,350-14,550 yuan per ton, with spot premium from discount 180-140 yuan per ton.

Lead: SHFE Lead keeps dropping. With upper great pressure at 19,000 and below support of various moving averages, lead price is expected to keep recognizing in the short term.

Zinc: SHFE Zinc moves better than LME Zinc. Concerning previous performance, below position of 24,500 yuan per ton is firm to support SHFE Zinc to move between 24,550-25,000 yuan today. See China’s foreign exchange reserve today.

Tin: SHFE Tin opened low and kept volatile last night, moving around 140,000 and falling below this important position at closure. It is expected to continue to fall below 137,000 yuan per ton. Today it is to move between 139,000-141,000 yuan per ton.

Nickel: Today LME Nickel is expected to keep weak and volatile. Main contact 1805 of SHFE Nickel today is to move between 87,200-89,200 yuan per to, with spot price at 87,300-89,000 yuan per ton.


For news cooperation, please contact us by email: gaotian@smm.cn or service.en@smm.cn. 


 

Key Words:  copper   aluminium   lead   zinc   tin   nickel 

Exclusive: SMM Morning Comments (Dec.6)

Price Review & Forecast 11:05AM Dec 06, 2017 Source:SMM

SHANGHAI, Dec.6 (SMM)-

Copper: LME Copper is expected to move between $6,500-6,560 per ton. Main contract 1802 of SHFE Copper is to move between 51,000-51,600 yuan per ton. For spor market, downstream tend to replenish stock after copper price slumped. Premium is expected to keep firm today from flat to 60 yuan per ton.

Aluminium: Today SHFE Aluminium may temporarily stop dropping at 14,350-14,550 yuan per ton, with spot premium from discount 180-140 yuan per ton.

Lead: SHFE Lead keeps dropping. With upper great pressure at 19,000 and below support of various moving averages, lead price is expected to keep recognizing in the short term.

Zinc: SHFE Zinc moves better than LME Zinc. Concerning previous performance, below position of 24,500 yuan per ton is firm to support SHFE Zinc to move between 24,550-25,000 yuan today. See China’s foreign exchange reserve today.

Tin: SHFE Tin opened low and kept volatile last night, moving around 140,000 and falling below this important position at closure. It is expected to continue to fall below 137,000 yuan per ton. Today it is to move between 139,000-141,000 yuan per ton.

Nickel: Today LME Nickel is expected to keep weak and volatile. Main contact 1805 of SHFE Nickel today is to move between 87,200-89,200 yuan per to, with spot price at 87,300-89,000 yuan per ton.


For news cooperation, please contact us by email: gaotian@smm.cn or service.en@smm.cn. 


 

Key Words:  copper   aluminium   lead   zinc   tin   nickel