SHANGHAI, Oct. 26 (SMM) – Base metal prices on the SHFE are expected to diverge on Wednesday after Tuesday’s cross-board surge, Shanghai Metals Market predicts.
“Speculative funds withdraw from the commodity market in overnight trading, and this will negatively affect base metal market, and with price divergence expected,” SMM says.
Key Macroeconomic Indicators for Base Metal Prices (2016-10-26)
Copper: 37,700-38,150 yuan per tonne
Aluminum: 13,500-13,800 yuan per tonne
Lead: 16,100-16,300 yuan per tonne
Zinc: 18,700-19,000 yuan per tonne
Tin: 132,500-134,500 yuan per tonne
Nickel: 80,600-82,300 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn