Shanghai Base Metal Prices to Fall across the Board on Tumbling Glencore Shares, SMM Says

Published: Sep 29, 2015 09:54

Save

Base metal prices on the SHFE are expected to drop across the board on Sept. 29 after Glencore’s shares tumbled, Shanghai Metals Market foresees.

SHANGHAI, Sept. 29 (SMM) – Base metal prices on the SHFE are expected to drop across the board on Sept. 29 after Glencore’s shares tumbled, Shanghai Metals Market foresees.

“Recent news from Glencore has triggered market worries over the outlook for the commodity, so bearish sentiment prevails,” SMM says.

Moreover, poor economic data from China leave market concerns unchanged over its slow growth, also weighing down the Shanghai market.

Copper: 37,500-38,000 yuan per tonne

Aluminum: 11,680-11,750 yuan per tonne

Lead: 13,000-13,140 yuan per tonne

Zinc: 13,400-13,600 yuan per tonne

Tin: 96,500-98,000 yuan per tonne

Nickel: 75,500-76,800 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.

base metal base metal price forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 hours ago

Data: SHFE, DCE market movement (Mar 16)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 16 Mar , 2026

13 hours ago

18 hours ago

Macro and Fundamentals Resonated Negatively, the Most-Traded SHFE Tin Contract Once Fell Below the 370,000-yuan Mark [SMM Tin Midday Commentary]

[SMM Tin Midday Review: Macro and Fundamental Bearish Factors Resonated, and the Most-Traded SHFE Tin Contract Once Fell Below the 370,000 yuan Mark]

18 hours ago

20 hours ago

[SMM Tin Flash News: The Semiconductor Industry Chain Ushered In a New Wave of Price Increases, with UMC, VIS, and PSMC Raising Wafer Toll Processing Prices]

Following memory and packaging, a new wave of price hikes swept through the semiconductor industry chain. Mature-process wafer foundries in Taiwan, including UMC, Vanguard, and PSMC, were reported to raise quotations as early as April, by as much as 10 or even more. Major users of mature processes—IC design houses led by driver IC makers—were also expected to raise prices in response to rising costs. UMC did not comment on market rumors of price hikes, but the company had previously said that the current pricing environment was "indeed more favorable than before." In a notice, Vanguard said it planned to adjust toll processing prices starting in April 2026, but did not disclose the size of the increase. PSMC confirmed that it had gradually raised prices since the current quarter, mainly for product lines with lower gross margins.

20 hours ago