SHANGHAI, Aug. 12 (SMM) – Base metal prices on the SHFE rose Aug. 11 with yuan’s sharp devaluation after PBOC’s decision to improve its central parity system. Will this continue on Aug. 12?
“Yesterday’s gain on the SHFE is in a sharp contrast to loss on the LME market, and Shanghai base metal prices are tottering now without support,” SMM’s analyst said.
Copper: 38,300-38,900
Aluminum: 12,040-12,100
Lead: 13,030-13,180
Zinc: 14,400-14,550
Tin: 107,000-108,300
Nickel: 80,300-81,600
Note: All prices above are forecasts for most actively-traded contracts on each market.
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