[Base Metal] Strong Dollar to Weigh on Shanghai Base Metal Prices

SHANGHAI, Jul. 30 (SMM) – Base metal prices on the SHFE are expected to be weighed on by a strong dollar on Jul. 30, Shanghai Metals Market foresees.  

“The dollar strengthened ahead of the US Federal Reserve’s meeting result, which was in line with market expectations, and a strong dollar will pressure base metal prices today,” SMM Says. 

Copper: 38,500-39,100

Aluminum: 12,270-12,330

Lead: 12,920-13,050

Zinc: 14,900-15,000

Tin: 110,000-113,000

Nickel: 83,000-84,500

Note: All prices above are forecasts for most actively-traded contracts on each market. 

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