Exclusive: SMM Morning Comments (Dec.11)

Price Review & Forecast 08:37AM Dec 11, 2017 Source:SMM

SHANGHAI, Dec.11 (SMM)-

Copper: LME copper is to move at $6,545-6,600 per ton today. Main contract 1802 of SHFE copper is to move at 51,300-51,800 yuan per ton. Spot market will keep a purchase at rigid demand, with light replenishment. Later see change of basis. Premium is to move from discount 20 to premium 20 yuan per ton.

Aluminium: LME aluminium is expected to keep volatile at low level from $2,000-2,030 per ton, probably to stop dropping temporarily today. The possibility that the price will go up exists. Spot premium will maintain at discount 110-70 yuan per ton.

Zinc: Today LME zinc is probably to move at $3,070-3,115 per ton. SHFE zinc is expected to keep in a seesaw struggle at 24,450-24,900 yuan per ton.

Nickel: Domestic NPI plants are bearish at nickel ore price with low purchase willingness. Iron ore price is to keep weak. Today LME nickel is expected to keep volatile. Main contract 1805 of SHFE nickel is expected to move at 87,600-89,200 yuan per ton, with sport price at 87,400-89,000 yuan per ton.

Lead: SHFE lead will continue move under pressure of all moving averages. With upper adhesive 10-day and 20-day moving average and below previous supporting platform, today it is estimated to move at 18,300-18,600 yuan per ton.

Tin: Today SHFE tin is expected to keep weak at 138,000-140,000 yuan per ton. For spot market, weak tendency of SHFE tin will suppress spot price, which is expected to move at 138,500-140,000 yuan per ton today.


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.11)

Price Review & Forecast 08:37AM Dec 11, 2017 Source:SMM

SHANGHAI, Dec.11 (SMM)-

Copper: LME copper is to move at $6,545-6,600 per ton today. Main contract 1802 of SHFE copper is to move at 51,300-51,800 yuan per ton. Spot market will keep a purchase at rigid demand, with light replenishment. Later see change of basis. Premium is to move from discount 20 to premium 20 yuan per ton.

Aluminium: LME aluminium is expected to keep volatile at low level from $2,000-2,030 per ton, probably to stop dropping temporarily today. The possibility that the price will go up exists. Spot premium will maintain at discount 110-70 yuan per ton.

Zinc: Today LME zinc is probably to move at $3,070-3,115 per ton. SHFE zinc is expected to keep in a seesaw struggle at 24,450-24,900 yuan per ton.

Nickel: Domestic NPI plants are bearish at nickel ore price with low purchase willingness. Iron ore price is to keep weak. Today LME nickel is expected to keep volatile. Main contract 1805 of SHFE nickel is expected to move at 87,600-89,200 yuan per ton, with sport price at 87,400-89,000 yuan per ton.

Lead: SHFE lead will continue move under pressure of all moving averages. With upper adhesive 10-day and 20-day moving average and below previous supporting platform, today it is estimated to move at 18,300-18,600 yuan per ton.

Tin: Today SHFE tin is expected to keep weak at 138,000-140,000 yuan per ton. For spot market, weak tendency of SHFE tin will suppress spot price, which is expected to move at 138,500-140,000 yuan per ton today.


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


 

Key Words:  copper   aluminium   lead   zinc   tin   nickel