SHANGHAI, Oct. 19 (SMM) – Base metal prices are expected to fall at first, and then stabilize for a rally this week, Shanghai Metals Market foresees.
“China is going to release its Q3 GDP results early this week, and weak results will weigh down base metal prices,” SMM says.
The European Central Bank (ECB)’s October interest rate decision due for release later this week will be also closely watched, and the biggest concern is whether or not the ECB will expand its current easing measures.
Copper: 39,400-39,900 yuan per tonne
Aluminum: 11,200-11,300 yuan per tonne
Lead: 13,400-13,500 yuan per tonne
Zinc: 14,300-14,450 yuan per tonne
Tin: 98,300-99,100 yuan per tonne
Nickel: 79,500-81,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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