SHANGHAI, Sept. 11 (SMM) – Base metal prices on the SHFE market are expected to be checked by stronger caution on Sept. 11, Shanghai Metals Market foresees.
“The rise in CPI, but a sharp year-on-year drop in PPI in August, released yesterday, grew market concerns over its economy,” SMM says.
Moreover, job data from the US again signified a stabilizing labor market.
The US dollar index, however, finished down 0.45% as world’s slow economy increased market doubts on a possible interest rate hike by the US Fed in September’s meeting.
Copper: 40,800-41,300 yuan per tonne
Aluminum: 12,000-12,090 yuan per tonne
Lead: 13,330-13,450 yuan per tonne
Zinc: 14,800-14,950 yuan per tonne
Tin: 102,500-103,500 yuan per tonne
Nickel: 80,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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