SHANGHAI, Jan 17 (SMM)－
Copper: LME copper is expected to trade at $7,030-7,230/mt while the SHFE 1803 contract is to trade at 53,450-54,600 yuan/mt. On the spot market, the discounts are expected to move at 160-120 yuan/mt.
Aluminium: LME aluminium is expected to trade at $2,180-2,200/mt with support at the 20-day moving average while SHFE aluminium is expected to trade at 14,500-14,750 yuan/mt with support at 14,500 yuan/mt. Spot discounts are seen at 90-50 yuan/mt.
Nickel: With bearish sentiment in the market, LME nickel still faces downward pressure while the SHFE 1805 contract is expected to trade at 96,000-97,800 yuan/mt with spot price at 95,700-97,500 yuan/mt today.
Zinc: LME zinc is expected to trade at $3,385-3,430/mt today as low inventories continue and supplies tighten. SHFE zinc has dropped below the five and 10-day moving averages, which is expected to trade at 25,900-26,350 yuan/mt today due to weak domestic demand.
Lead: SHFE lead rallied and finished at 19,000 yuan/mt. With great pressure above, the price is expected to trade in a weak rangebound in the short term.
Tin: LME tin see upper pressure at $20,500/mt and is expected to keep rangebound at a high level in the short term. SHFE tin is expected to trade at 144,000-145,500 yuan/mt under pressure. We see spot prices at 143,500-145,000 yuan/mt today.
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