SHANGHAI, Oct. 25 (SMM) – Base metal prices on the SHFE are expected to show relatively stronger performance on Tuesday, Shanghai Metals Market foresees.
“The dollar is strong, but bullish sentiment in the commodity market will boost base metal market, and caution should be on technical fallback of some products, which already climbed above the previous high,” SMM says.
Key Macroeconomic Indicators for Base Metal Prices (2016-10-25)
Copper: 37,300-37,600 yuan per tonne
Aluminum: 12,780-13,050 yuan per tonne
Lead: 16,250-16,500 yuan per tonne
Zinc: 18,350-18,550 yuan per tonne
Tin: 132,500-135,000 yuan per tonne
Nickel: 80,000-81,800 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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