Strong Caution Expected in Shanghai Base Metal Market ahead of Holiday, SMM Says

Published: Sep 2, 2015 09:32

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Base metal prices on the SHFE are expected to be mixed ahead of the holiday from Sept. 3-5, Shanghai Metals Market foresees.

SHANGHAI, Sept. 2 (SMM) – Base metal prices on the SHFE are expected to be mixed ahead of the holiday from Sept. 3-5, Shanghai Metals Market foresees.

“Today is the last trading day of the week on the SHFE, so strong caution will predominate the market,” SMM says.

In neighboring markets, crude oil market staged price volatility, and the dollar came under downward pressure.

Copper: 38,900-39,300 yuan per tonne

Aluminum: 11,800-11,870 yuan per tonne

Lead: 13,300-13,450 yuan per tonne

Zinc: 14,650-14,800 yuan per tonne

Tin: around 100,000 yuan per tonne

Nickel: 75,000-76,500 yuan per tonne

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 communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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