Home / Metal News / Copper / SMM Morning Comments (Jan 15)
SMM Morning Comments (Jan 15)
Jan 15,2018 09:25CST
price review forecast
Source:SMM
SMM Morning Comments (Jan 15)

SHANGHAI, Jan 15 (SMM)-

Copper: LME copper traded lowered between the 10-day and 20-day moving averages and is expected to trade at $7,080-7,160/mt today. SHFE copper is expected to trade at 54,260-54,790 yuan/mt while spot premiums are to rise to 40-100 yuan/mt today.

Aluminium: LME aluminium is expected to trade higher at $2,210-2,240/mt due to the suspension of Alcoa’s overseas plant and anti-dumping factors. SHFE aluminium, however, sees resistance and is expected to trade at 15,080-15,300 yuan/mt. In the spot market, the discounts are to move at 100-60 yuan/mt today.

Zinc: LME zinc set another new high but the inventory is difficult to drop further. We expect the price to rangebound at $3,365-3,410/mt while the SHFE contract is expected to trade at 25,980-26,450 yuan/mt on weak consumption.

Nickel: The downstream consumers of nickel have entered the off season, leading LME nickel to trade under pressure of the five-day moving average. The SHFE 1805 nickel contract is expected to trade at 98,100-99,600 yuan/mt today with spot price at 97,700-99,200 yuan/mt.

Lead: SHFE lead returned to the 19,000 yuan/mt level with a rangebound movement in store.

Tin: LME tin sees resistance at $20,500/mt but it is expected to remain firm due to weaker US dollar in the short term. The SHFE tin contract is expected to trade at 145,000-146,000 yuan/mt today while spot prices are to move at 144,000-145,000 yuan/mt on relatively tighter supply.

 


For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
For more information on how to access our research reports, please email service.en@smm.cn 


 

copper
aluminium
lead
zinc
tin
nickel

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news