SHANGHAI, Sept. 14 (SMM) – Market caution is turning stronger ahead of the upcoming US Fed’s interest rate meeting this Friday, Shanghai Metals Market foresees.
“The US Fed will hold its September interest rate meeting this Friday, and market sentiment will turn gradually cautious ahead of the meeting,” SMM says.
Moreover, the lack of release of major data today will leave Shanghai base metal prices in corrections, SMM adds.
Copper: 40,800-41,300 yuan per tonne
Aluminum: 12,000-12,080 yuan per tonne
Lead: 13,250-13,350 yuan per tonne
Zinc: 14,780-14,880 yuan per tonne
Tin: 102,600-104,000 yuan per tonne
Nickel: 78,500-80,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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