Base Metals Prices Expected to Open Higher Last Friday-Shanghai Metals Market

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Base Metals Prices Expected to Open Higher Last Friday

SMM Insight 11:19:44AM Jan 21, 2013 Source:SMM

SHANGHAI, Jan. 21 (SMM0 – China's major economic data was released last Friday. The market had been optimistic towards economic signal.

During European and US trading, UK's retail sales data was expected flat in December. YoY retail sales growth of the country has been slowing since August 2012, and that would cause the attraction of pound to decrease and pull up the US dollar index. US January CCI was expected to improve slightly due to an agreement on US fiscal cliff issue.

 Shanghai base metals prices were expected to open higher last Friday, with increases depending on China's economic data.

 

Price

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#1 Refined Cu
Oct.15
46985.0
-95.0
(-0.20%)
Standard-Grade Copper
Oct.15
46980.0
-90.0
(-0.19%)
High-Grade Copper
Oct.15
46990.0
-100.0
(-0.21%)
Guixi copper
Oct.15
46995.0
-105.0
(-0.22%)
Low-quality copper
Oct.15
46935.0
-90.0
(-0.19%)

Base Metals Prices Expected to Open Higher Last Friday

SMM Insight 11:19:44AM Jan 21, 2013 Source:SMM

SHANGHAI, Jan. 21 (SMM0 – China's major economic data was released last Friday. The market had been optimistic towards economic signal.

During European and US trading, UK's retail sales data was expected flat in December. YoY retail sales growth of the country has been slowing since August 2012, and that would cause the attraction of pound to decrease and pull up the US dollar index. US January CCI was expected to improve slightly due to an agreement on US fiscal cliff issue.

 Shanghai base metals prices were expected to open higher last Friday, with increases depending on China's economic data.