Lead up over 2%, ferrous complex weaker (Dec 13)-Shanghai Metals Market

Hot Keywords

  • Nickel market
  • Copper
  • Silicon
  • Market commentary
  • Nickel ore
  • Aluminium
  • Inventory data
  • Stainless steel
  • Sales data
  • Production data
  • Nickel
  • Zinc
  • Morning comments
  • Silicon metal
  • Evening comments

Lead up over 2%, ferrous complex weaker (Dec 13)

Price Review & Forecast 06:17:23PM Dec 13, 2017 Source:SMM

SHANGHAI, Dec.13 (SMM)-Most of the nonferrous metals traded up today except for tin, which dropped more than 2% at closure. Lead led the rise with over 2% gains while zinc rose more than 1%. Copper rose nearly 1% and nickel also moved up slightly. 

Ferrous markets also saw mixed trading with rebar, coke and hot-rolled coil all dropping some 2%. Iron ore and coking coal closed higher.

Copper: Copper prices are likely to go up tonight while the market awaits US CPI data in November and resolution on interest rate.

Aluminium: We maintain our views that aluminium prices would trade range-bound in the near term although downward pressure exists in the medium term.

Nickel: Nickel is expected to seek support at the 10-day moving average. The release of US CPI monthly data in November and EIA weekly crude oil inventory tonight would give more guidance to the market.

Tin: While tin fell below previous supporting level at 137,000 yuan/mt, potential risk of further drop remains. We see current support level at 132,000 yuan/mt.

Lead: Lead registered higher closures for three consecutive days. However it is expected to trade in the range of 19,000-19,300 yuan/mt tonight.

Zinc: Zinc price moved in a stable way today. Bears and bulls seems to get in stalemate. With upper strong resistance at 60-day moving average, the price is estimated to seek opportunity to move up driven by foreign markets tonight.


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

Key Words:  copper   aluminium   lead   zinc   tin   nickel 

Lead up over 2%, ferrous complex weaker (Dec 13)

Price Review & Forecast 06:17:23PM Dec 13, 2017 Source:SMM

SHANGHAI, Dec.13 (SMM)-Most of the nonferrous metals traded up today except for tin, which dropped more than 2% at closure. Lead led the rise with over 2% gains while zinc rose more than 1%. Copper rose nearly 1% and nickel also moved up slightly. 

Ferrous markets also saw mixed trading with rebar, coke and hot-rolled coil all dropping some 2%. Iron ore and coking coal closed higher.

Copper: Copper prices are likely to go up tonight while the market awaits US CPI data in November and resolution on interest rate.

Aluminium: We maintain our views that aluminium prices would trade range-bound in the near term although downward pressure exists in the medium term.

Nickel: Nickel is expected to seek support at the 10-day moving average. The release of US CPI monthly data in November and EIA weekly crude oil inventory tonight would give more guidance to the market.

Tin: While tin fell below previous supporting level at 137,000 yuan/mt, potential risk of further drop remains. We see current support level at 132,000 yuan/mt.

Lead: Lead registered higher closures for three consecutive days. However it is expected to trade in the range of 19,000-19,300 yuan/mt tonight.

Zinc: Zinc price moved in a stable way today. Bears and bulls seems to get in stalemate. With upper strong resistance at 60-day moving average, the price is estimated to seek opportunity to move up driven by foreign markets tonight.


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

Key Words:  copper   aluminium   lead   zinc   tin   nickel