SHFE Zinc and Lead to Outperform Others on Falling Dollar, SMM Says

SHANGHAI, Aug. 20 (SMM) – Zinc and lead prices on the SHFE market are expected to outshine other base metals on Aug.20, Shanghai Metals Market foresees. 

“A falling dollar after the Fed’s dovish tone in its July meeting minutes has sent up most LME base metals overnight, and Shanghai market will largely follow suit, with stronger zinc and lead expected, ” SMM says.  

Copper: 38,300-38,800 yuan per tonne

Aluminum: 11,900-12,000 yuan per tonne

Lead: 13,250-13,400 yuan per tonne

Zinc: 14,680-14,800 yuan per tonne

Tin: support at 106,300 yuan per tonne

Nickel: 81,000-81,900 yuan per tonne

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

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