Falling to Continue in Shanghai Base Metals Market, SMM Says

Published: Nov 11, 2015 09:40

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Base metal prices on the SHFE will not stop falling on Nov. 11, Shanghai Metals Market foresees.

SHANGHAI, Nov. 11 (SMM) – Base metal prices on the SHFE will not stop falling on Nov. 11, Shanghai Metals Market foresees.

“The growth of positions on the SHFE copper, zinc and nickel on Tuesday’s night trading is mainly by shorts, and moreover, results of China’s data due for release today, including fixed-assets investment and property data, are expected to be poor,” SMM points out.

The US dollar, however, is estimated to hover at highs for the foreseeable future, and will need new stimulus to climb above the high of 100.42 hit in March, SMM adds.

Copper: 37,200-37,700 yuan per tonne

Aluminum: 10,100-10,200 yuan per tonne

Lead: 12,600-12,750 yuan per tonne

Zinc: 12,950-13,150 yuan per tonne

Tin: 90,000-91,000 yuan per tonne

nickel: 72,800-74,200 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.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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