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

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. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.