Futures trading mixed, nickel leads 2% gain (Dec 19)-Shanghai Metals Market

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Futures trading mixed, nickel leads 2% gain (Dec 19)

Price Review & Forecast 06:28:46PM Dec 19, 2017 Source:SMM

SHANGHAI, Dec 19 (SMM)-Nonferrous metals saw mixed trading today with nickel leading the gains at over 2% rise. Zinc, copper and aluminium all moved down slightly.

In the ferrous complex, coking coal surged 5.6% while iron ore and coke registered small gains. Both rebar and hot-rolled coil, however, saw losses of 2% and 2.6% respectively.

Copper: There is still upward room for copper in the near term as it tests the 54,000 yuan/mt level. Data on US new housing starts in November is set to be key tonight.  

Nickel: SHFE nickel is estimated to trade in a narrow range tonight. In addition to US new housing starts last month, investors would also look out for data on the country’s building permits in November.

Zinc: Poor trading activity in the physical market will continue to pressure futures prices, which will test the 60-day moving average support tonight.

Tin: Tin price moved around 10-day moving average and it will remain rangebound due to investors cutting positions. 

Lead: Lead price still traded above all moving averages after falling from its high today. It is expected to trade in a narrow range at current level tonight.

Aluminium: Bears and bulls seem prudent currently. Maintain views on rangebound tendency of aluminium price in the short term. The capital's struggle for 14,500 yuan/mt needed to be focused on.


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

Key Words:  copper   aluminium   lead   zinc   tin   nickel 

Futures trading mixed, nickel leads 2% gain (Dec 19)

Price Review & Forecast 06:28:46PM Dec 19, 2017 Source:SMM

SHANGHAI, Dec 19 (SMM)-Nonferrous metals saw mixed trading today with nickel leading the gains at over 2% rise. Zinc, copper and aluminium all moved down slightly.

In the ferrous complex, coking coal surged 5.6% while iron ore and coke registered small gains. Both rebar and hot-rolled coil, however, saw losses of 2% and 2.6% respectively.

Copper: There is still upward room for copper in the near term as it tests the 54,000 yuan/mt level. Data on US new housing starts in November is set to be key tonight.  

Nickel: SHFE nickel is estimated to trade in a narrow range tonight. In addition to US new housing starts last month, investors would also look out for data on the country’s building permits in November.

Zinc: Poor trading activity in the physical market will continue to pressure futures prices, which will test the 60-day moving average support tonight.

Tin: Tin price moved around 10-day moving average and it will remain rangebound due to investors cutting positions. 

Lead: Lead price still traded above all moving averages after falling from its high today. It is expected to trade in a narrow range at current level tonight.

Aluminium: Bears and bulls seem prudent currently. Maintain views on rangebound tendency of aluminium price in the short term. The capital's struggle for 14,500 yuan/mt needed to be focused on.


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

Key Words:  copper   aluminium   lead   zinc   tin   nickel