SHANGHAI, Jan 16 (SMM)－
Copper: LME copper is expected to trade at $7,150-7,250/mt today while the SHFE 1803 copper is to trade at 54,430-55,200 yuan/mt. We see spot discounts at 220-140 yuan/mt today as buying interest weakened following higher futures prices.
Nickel: LME nickel is expected to stay rangebound today and its Chinese counterpart is to trade at 99,200-100,600 yuan/mt. Spot prices are seen at 98,900-100,200 yuan/mt.
Zinc: Supported by expectation of supply tightness, LME zinc is set to trade at $3,405-3,455/mt today. However, downside risk remains for the SHFE contract due to weak domestic consumption. We see SHFE zinc at 26,100-26,550 yuan/mt today.
Aluminium: LME aluminium is expected to trade at $2,220-2,250/mt while SHFE aluminium is to trade at 14,980-15,150 yuan/mt with firm support of the 20-day moving average. Spot discounts are to move at 200-160 yuan/mt today.
Tin: A weaker US dollar has provided support for the LME tin contract, which may aim for the $20,500/mt level. SHFE tin, on the other hand, is expected to be steady at 144,000-146,000 yuan/mt today with spot prices at 144,000-145,000 yuan/mt.
Lead: SHFE lead is trading with resistance at the 20-day moving average, but it may edge up with the lead of rising LME lead.
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