SHANGHAI, Sept. 22 (SMM) – Base metal prices on the SHFE are expected to diverge on Sept. 22 due to risk preference, Shanghai Metals Market foresees.
“Price of base metal, with weaker fundamentals and absence of positive news, will face sell-off pressures in the Shanghai market,” SMM sees.
In the neighboring market, the price of precious metals closed down slightly, and the dollar was favored by investors.
Copper: 40,050-40,550 yuan per tonne
Aluminum: 11,800-11,900 yuan per tonne
Lead: 13,180-13,280 yuan per tonne
Zinc: 13,300-13,500 yuan per tonne
Tin: around 100,000 yuan per tonne
Nickel: 76,800-78,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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