Worries over Global Growth to Trouble Shanghai Base Metal Prices-Shanghai Metals Market

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Worries over Global Growth to Trouble Shanghai Base Metal Prices

Industry News 09:29:54AM Sep 21, 2015 Source:SMM

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. 

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


Worries over Global Growth to Trouble Shanghai Base Metal Prices

Industry News 09:29:54AM Sep 21, 2015 Source:SMM

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. 

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