Shanghai Base Metal Prices to Drift Lower on Growth Concerns

SHANGHAI, Sept. 15 (SMM) – Base metal prices on the SHFE are expected to move lower on Sept. 15 due to China’s growth concerns, Shanghai Metals Market foresees. 

“Reignited worries over China’s growth following downbeat data will weigh on Shanghai prices, and China’s stock market will be also closely watched today,” SMM says. 

China’s stocks slumped on Monday, with the benchmark Shanghai Composite Index closing at 3114.80, down 2.7 percent.

Copper: 40,200-40,700 yuan per tonne

Aluminum: 11,950-12,000 yuan per tonne

Lead: 13,150-13,250 yuan per tonne

Zinc: 14,400-14,500 yuan per tonne

Tin: 102,000-103,000 yuan per tonne

Nickel: 76,500-77,800 yuan per tonne

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

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