Market Eyes on China Data, with Shanghai Market Sentiment Cautious

SHANGHAI, Sept. 10 (SMM) – Base metal prices on the SHFE now waits for the result of major economic results from China on Sept. 10, Shanghai Metals Market foresees. 

“Market expectations over the upcoming release of China’s data are mixed, and poor readings are likely to fuel speculations over more pro-growth policies in China,” SMM says. 

China will release CPI, PPI and M2 today, with mixed expectations.  

In other news, investors also put a close watch on the US Fed’s interest rate decision in the next week’s meeting. Yesterday, the US reported strong labor results. 

Copper: 40,500-41,500 yuan per tonne

Aluminum: 11,970-12,060 yuan per tonne

Lead: 13,280-13,420 yuan per tonne

Zinc: 14,700-14,900 yuan per tonne

Tin: 100,500-102,000 yuan per tonne

Nickel: 76,500-78,300 yuan per tonne

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

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