SHANGHAI, Sept. 21 (SMM) – Base metal prices on the SHFE are expected to look for support at lows on the first trading day of the week, Shanghai Metals Market foresees.
“Worries over world’s economic growth, following the release of US Federal Reserve’s September meeting minutes, are now in the spotlight, and the dollar is strengthening with strong safe-haven appeal,” SMM says.
The gold price also climbed to a 3-week high due to growing safe-haven demand.
Copper: 40,000-40,500 yuan per tonne
Aluminum: 12,020-12,120 yuan per tonne
Lead: 13,180-13,280 yuan per tonne
Zinc: 13,950-14,150 yuan per tonne
Tin: 100,500-101,800 yuan per tonne
Nickel: 76,500-77,500 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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