SHANGHAI, Dec.11 (SMM)－Today nonferrous metals keep a weak tendency. SHFE tin led the drop with over 1% loss. SHFE nickel dropped nearly 1%. SHFE lead dropped 0.72%. SHFE copper and aluminium slightly dropped. SHFE zinc rose 0.55%. Ferrous metals performed strongly. Except slight drop of iron ore, coke surged nearly 5%. Coking coal rose nearly 3%. Rebar rose 1.58%. Hot-rolled coil rose over 1%.
Copper: SHFE Copper rushed high and then retraced. With bears dominating the market, copper price is expected ti keep weak tendency in the short term.
Zinc: With limited upward impetus, SHFE zinc broke 5-day moving average. Under pressure of upper various moving averages, tonight it is expected to move around 24,500 yuan per ton with lack of good news.
Nickel: Tonight SHFE nickel has weak upward power. Light macroeconomic news tonight.
Aluminum: SHFE aluminum had more resistance to dropping today. With bearish fundamentals, bears are likely to close out for settlement at year-end. It is estimated to keep weak and volatile.
Lead: SHFE lead moved under pressure of various moving averages. With upper adhesive 10-day and 20-day moving average, tonight it is estimated to consolidate current position and attempt to break above 18,600 yuan per ton.
Tin: SHFE tin has further downward pressure, testing support strength at 137,000 yuan per ton.
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