Exclusive: SMM Morning Comments (Dec.7)

Price Review & Forecast 10:00AM Dec 07, 2017 Source:SMM

SHANGHAI, Dec.7 (SMM)-

Copper: Today LME Copper is expected to move between $6,250-6,580 per ton. SHFE Copper is to move between 51,200-51,750 yuan per ton. People waiting and seeing is the mainstream in spot market. Stockpile from downstream is certain to increase when price stabilizes. Today premium is to move between flat to 60 yuan per ton.

Nickel: Last night the US ADP figure was quite good with US dollar rising. Today see China’s foreign exchange reserve in November. With no change of downstream demand, LME Nickel may seek downward support. Today main contract 1805 of SHFE Nickel may move between 87,000-88,600 yuan per ton, with spot price between 86,800-88,100 yuan per ton.

Tin: LME Tin kept volatile in low level, with support at $19,200 per ton and resistance at $19,700 per ton. Last night SHFE Tin failed to continue upward tendency during day session, keeping volatile around 5-day moving average. Today it is to move between 139,000-141,000 yuan per ton. For spot market, SHFE Tin’s volatile tendency suppresses on spot market. Considering slight rise of SHFE Tin compared with yesterday, stock of low price may reduce to some extent, Today it is to move between 140,000-141,000 yuan per ton.

Zinc: LME Zinc is expected to move between $3,065-3,115 per ton today. SHFE Zinc is to move between 24,360-24,820 yuan per ton.

Aluminium: Today aluminium price is expected to keep weak. LME Aluminium is to move between $2,010-2,030 per ton. Main contract of SHFE Aluminium is to move between 14,150-14,350 yuan per ton, with spot premium at discount 120-80 yuan per ton.

Lead: SHFE Lead moved stable. With upper pressure of moving averages and no good change of fundamentals demand, lead price is expected to consolidate within range in the short term.


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.7)

Price Review & Forecast 10:00AM Dec 07, 2017 Source:SMM

SHANGHAI, Dec.7 (SMM)-

Copper: Today LME Copper is expected to move between $6,250-6,580 per ton. SHFE Copper is to move between 51,200-51,750 yuan per ton. People waiting and seeing is the mainstream in spot market. Stockpile from downstream is certain to increase when price stabilizes. Today premium is to move between flat to 60 yuan per ton.

Nickel: Last night the US ADP figure was quite good with US dollar rising. Today see China’s foreign exchange reserve in November. With no change of downstream demand, LME Nickel may seek downward support. Today main contract 1805 of SHFE Nickel may move between 87,000-88,600 yuan per ton, with spot price between 86,800-88,100 yuan per ton.

Tin: LME Tin kept volatile in low level, with support at $19,200 per ton and resistance at $19,700 per ton. Last night SHFE Tin failed to continue upward tendency during day session, keeping volatile around 5-day moving average. Today it is to move between 139,000-141,000 yuan per ton. For spot market, SHFE Tin’s volatile tendency suppresses on spot market. Considering slight rise of SHFE Tin compared with yesterday, stock of low price may reduce to some extent, Today it is to move between 140,000-141,000 yuan per ton.

Zinc: LME Zinc is expected to move between $3,065-3,115 per ton today. SHFE Zinc is to move between 24,360-24,820 yuan per ton.

Aluminium: Today aluminium price is expected to keep weak. LME Aluminium is to move between $2,010-2,030 per ton. Main contract of SHFE Aluminium is to move between 14,150-14,350 yuan per ton, with spot premium at discount 120-80 yuan per ton.

Lead: SHFE Lead moved stable. With upper pressure of moving averages and no good change of fundamentals demand, lead price is expected to consolidate within range in the short term.


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


 

Key Words:  copper   aluminium   lead   zinc   tin   nickel