Metals News
Exclusive: SMM Morning Comments (Dec.8)
price review forecast


Copper: Today LME Copper is to move between $6,530-6,590 per ton. Main contract of SHFE Copper is to move between 51,200-51,700 yuan per ton. Downstream in spot market still keeps waiting and seeing and planning to stockpile after the price stabilizes.  See basis change every other month. Today premium is expected to move between discount 10 yuan per ton to premium 50 yuan per ton.

Aluminium: Today SHFE Aluminium is expected to move volatile with main contract at 14,100-14,350 yuan per ton, with spot premium at discount 120-80 yuan per ton.

Zinc: Today struggle between bears and bulls is likely to intensify. SHFE Zinc is expected to move between 24,400-24,880 yuan per ton. See China’s import & export number and trade data.

Nickel: Today LME Nickel is estimated to keep volatile within current range. Main contract of SHFE Nickel is to move between 87,900-89,400 yuan per ton, with spot price at 87,700-89,300 yuan per ton.

Lead: SHFE Lead fell to 18,460 yuan per ton. In the short term it is estimated to keep weak and volatile.

Tin: Last night SHFE Tin kept consolidating at low level and finished below 140,000 yuan per ton. Today it is estimated to move between 139,000-140,500 yuan per ton.

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