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SMM Morning Comments (Jan 23)
Jan 23,2018 09:30CST
price review forecast
Source:SMM
SMM Morning Comments (Jan 23)

SHANGHAI, Jan 23 (SMM)-

Copper: LME copper is expected to trade at $7,030-7,120/mt on weaker bullish sentiment while SHFE 1803 is expected to trade at 53,450-54,000 yuan/mt. We see spot discounts at 130-90 yuan/mt today.

Aluminium: LME aluminium remains strong and is expected to trade at $2,220-2,260/mt while SHFE aluminium is expected to trade at 14,600-14,800 yuan/mt, driven by the LME. On the spot market, the discounts are seen at 220-180 yuan/mt.

Zinc: LME zinc is expected to trade at $3,390-3,435/mt today with sufficient inventory while SHFE zinc is to trade at 25,850-26,300 yuan/mt on weak fundamentals.

Lead: SHFE lead traded above all moving averages. With limited momentum from bulls, the price is expected to trade in a narrow range at a high level today.

Tin: LME tin continues to rise, moving towards $21,000/mt in the short term. SHFE tin reached 147,000 yuan/mt last night, and is expected to trade at 146,000-147,000 yuan/mt today. Spot prices are expected at 144,500-146,500 yuan/mt.

Nickel: LME nickel was supported at bottom and is expected to trade in a narrow range today while SHFE 1805 is to trade at 97,500-99,000 yuan/mt with spot prices at 97,300-98,600 yuan/mt.


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copper
aluminium
lead
zinc
tin
nickel

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