Shanghai Base Metal Prices to Rise on Positive Factors-Shanghai Metals Market

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Shanghai Base Metal Prices to Rise on Positive Factors

Industry News 09:27:44AM Sep 17, 2015 Source:SMM

SHANGHAI, Sept. 17 (SMM) – Base metal prices on the SHFE are expected to rally across the board on Sept. 17 on positive factors, Shanghai Metals Market foresees. 

“The poor inflation data in the US is likely to delay its interest rate hike, and crude oil prices advanced with falling inventories, both supporting Shanghai base metal prices,” SMM says. 

Moreover, China’s stock market rebounded strongly after sharp losses in the first two trading days of the week, with the benchmark Shanghai Composite Index closing up 4.89%. 

In other news, an 8.3-magnitude hit off the coast of Chile on Wednesday, and copper prices will get a boost from the news. 

Copper: 40,800-41,700 yuan per tonne

Aluminum: 11,940-12,000 yuan per tonne

Lead: 13,310-13,400 yuan per tonne

Zinc: 14,450-14,600 yuan per tonne

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

Nickel: 78,000-79,500 yuan per tonne

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

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


Shanghai Base Metal Prices to Rise on Positive Factors

Industry News 09:27:44AM Sep 17, 2015 Source:SMM

SHANGHAI, Sept. 17 (SMM) – Base metal prices on the SHFE are expected to rally across the board on Sept. 17 on positive factors, Shanghai Metals Market foresees. 

“The poor inflation data in the US is likely to delay its interest rate hike, and crude oil prices advanced with falling inventories, both supporting Shanghai base metal prices,” SMM says. 

Moreover, China’s stock market rebounded strongly after sharp losses in the first two trading days of the week, with the benchmark Shanghai Composite Index closing up 4.89%. 

In other news, an 8.3-magnitude hit off the coast of Chile on Wednesday, and copper prices will get a boost from the news. 

Copper: 40,800-41,700 yuan per tonne

Aluminum: 11,940-12,000 yuan per tonne

Lead: 13,310-13,400 yuan per tonne

Zinc: 14,450-14,600 yuan per tonne

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

Nickel: 78,000-79,500 yuan per tonne

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

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.