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No Big Gains Expected in Shanghai Base Metal Market after PBOC Cut
Aug 26, 2015 09:36Shanghai base metal market is not expected to stage big gains on Aug. 26 after PBOC’s cut decision, Shanghai Metals Market foresees.
SHANGHAI, Aug. 26 (SMM) – Shanghai base metal market is not expected to stage big gains on Aug. 26 after PBOC’s cut decision, Shanghai Metals Market foresees.
“Market will digest the cut decision by PBOC on interest rate and reserve ratio today, but the positive impact will be small given market response after recent cuts,” SMM says.
In other news, China’s stock market tumbled yesterday, with Shanghai benchmark index sliding below 3,000.
Copper: 39,200-39,600
Aluminum: 11,900-11,950
Lead: 13,200-13,400
Zinc: 14,400-14,600
Tin: 100,500-102,500
Nickel: 74,200-76,500
Note: All prices above are forecasts for most actively-traded contracts on each market.
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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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