SMM Inclusive Morning Comments (2017-12-01)

SHANGHAI, Dec.1 (SMM)-

Zinc: SHFE moves stable basically. Bears and bulls reduce positions alternatively with prudent attitude. Lacking in support of continuous upward tendency, today SHFE Zinc is to move between 24,800-25,250 yuan per ton.

Copper: Dropping spot price causes downstream purchasing, driving rise of premium. Whether premium can keep strong remains to be seen. Today spot premium is to move between discount 70-20 yuan per ton.

Lead: SHFE Lead opened high and moved above 10 day moving average, aiming upper 20-day moving average. With great pressure at this average, today it is to keep volatile and reorganize.

Nickel: Today main contract 1805 of SHFE Nickel is to move between 89,500-91,000 yuan per ton, with spot price between 89,000-90,300 yuan per ton. Today see China’s Caixin PMI of manufacturing industry in November.

Tin: Yesterday SHFE Tin reorganized around 141,800 yuan per ton. Today it is to move between 141,000-142,500 yuan per ton.

Aluminium: Today main contract of SHFE Aluminium is to move between 14,450-14,650 yuan per ton.

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