Editorial

Spot lead price to rise along with stronger SHFE

Date Nov 15 2018 09:32:52Source:SHMET

SHANGHAI, Nov 15 (SHMET) – Spot lead price is likely to up 75 yuan/mt along with stronger SHFE on November 15. SHFE three month lead ran at around 18,150 yuan/mt.

SHFE three month lead contract transferred to 1901 contract. On November 14’s night trading hours, SHFE three month lead 1901 contract opened at 18,140 yuan/mt and finally closed at 18,165 yuan/mt, up 175 yuan/mt or 0.97% from a day earlier. Transactions reduced by 12,746 lots to 19,414 lots, and open interest increased by 2,018 lots to 46,546 lots.

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Nickel market to remain bleak

Date Nov 15 2018 09:29:46Source:SHMET

SHANGHAI, Nov 15 (SHMET) – Trading of nickel is to remain lackluster in the short term, and weak demand would restrain nickel price.

Market concerns emerged, as China’s retail sales growth unexpectedly slowed to 8.6% in October announced by National Bureau of Statistics, indicating a slow-down in consumption.

SHFE 3M nickel closed at 94,200 yuan/mt, down 220 yuan/mt or 0.23% in yesterday’s night trading session.

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Copper price inches up

Date Nov 15 2018 09:21:29Source:SHMET

SHANGHAI, Nov 15 (SHMET) – Copper price closed 0.3% higher on November 14 despite of the slight drop in the morning. LME copper remained stable basically. Recent China-US trade dispute weighed on price by dragging Chinese economy and dampening demand. Anyway, according to certain data, China’s metal demand showed ductility and China copper premium held high.

SHFE 1901 copper picked up after opening at 48,970 yuan/mt on November 14’s night trading, with high-end at 49,280 yuan/mt and low-end at 48,920 yuan/mt.

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Zinc price to fluctuate widely

Date Nov 15 2018 09:16:54Source:SHMET

SHANGHAI, Nov 15 (SHMET) –Zinc price is likely to fluctuate widely on November 15. SHFE three month zinc edged up after a low open, recovering some losses on November 14’s night trading hours. SHFE zinc 1812 and 1901 contract decreased slightly.

On November 14’s night trading hours, SHFE zinc three month 1901 contract opened at 20,785 yuan/mt and closed at 20,940 yuan/mt, down 60 yuan/mt or 0.29% from a day earlier. Transactions reached 396,398 lots, and open interest stood at 219,842 lots, with a decrease of 3,812 lots.

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Aluminum price to stay soft

Date Nov 15 2018 09:14:41Source:SHMET

SHANGHAI, Nov 15 (SHMET) – Aluminum price continues to be stuck in weak pattern, as downstream consumption was sluggish. Real estate investment slowed down year on year, and automobile production and sales saw negative growth first time this year. Though output reduction came out now and then, inventory remained at historically high levels.

SHFE 1901 aluminum contract opened lower at 13,730 yuan/mt in yesterday’s night trading session, and closed at 13,760 yuan/mt, down 15 yuan/mt or 0.11%. Transactions stood at 45,882 lots, and position reduced by 1,612 lots to 267,138 lots.

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