SHANGHAI, Sept. 16 (SMM) – Market caution is growing with the nearing of US Federal Reserve’s interest rate meeting in September.
“Strong caution is expected to keep base metal prices on the SHFE to be in check today with absence of other major news,” SMM says.
China’s stocks continued tumbling on Tuesday, with the benchmark Shanghai Composite Index finishing down 3.5 percent.
In the neighboring market, the US dollar index closed up to 95.6.
Copper: 40,300-40,800 yuan per tonne
Aluminum: 11,900-12,000 yuan per tonne
Lead: 13,280-13,380 yuan per tonne
Zinc: 14,400-14,600 yuan per tonne
Tin: 101,000-102,500 yuan per tonne
Nickel: 76,500-78,500 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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