SMM November 27th News: Metal Market: Overnight, base metals fell across the board, Shanghai zinc rose 1.61%. Shanghai nickel fell 1.21%. Shanghai copper fell 0.14%. Shanghai lead rose 0.23%. Shanghai aluminum fell 0.29%, Shanghai tin fell 0.26%. In addition, alumina fell 1%.
 
Overnight, black series were mostly green, iron ore rose slightly by 0.06%, stainless steel fell 1.44%, rebar fell 0.51%, and hot-rolled coil fell 0.35%. In terms of coke: coking coal fell 2.16%, coke fell 1.3%.
Overnight, LME metals fell across the board, London zinc rose 1.49%, London tin fell 0.12%, and London nickel fell 1.38%. London lead fell 0.94%, London aluminum fell 1.62%. London copper fell 0.92%.
Overnight overseas precious metals: COMEX gold rose 0.58%, COMEX silver rose 0.8%. Overnight domestic precious metals: Shanghai gold fell 0.52%, Shanghai silver fell 0.05%. JPMorgan Chase maintains its bullish outlook for gold for many years, predicting that gold prices will rise to $3,000/ounce next year; silver prices are expected to rise to $38/ounce by the end of 2025; platinum is expected to rebound strongly and move towards $1,200/ounce. JPMorgan Chase said the rebound in precious metals will continue; supply constraints have laid the foundation for stronger base metal prices later in 2025.
 
Shanghai Nonferrous Network
https://news.smm.cn/news/103058768