Holiday Caution to Keep Shanghai Base Metal Prices in Check, SMM Says

Published: Sep 30, 2015 10:18

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Base metal prices on the SHFE are expected to be checked by caution ahead of the holiday in China on Sept. 30, Shanghai Metals Market foresees.

SHANGHAI, Sept. 30 (SMM) – Base metal prices on the SHFE are expected to be checked by caution ahead of the holiday in China on Sept. 30, Shanghai Metals Market foresees.

“Today is the last trading day before a week-long holiday in China, and strong caution will predominate the market,” SMM says.

LME base metals mostly lurched higher after Glencore said it is "operationally and financially robust".

Copper: 37,800-38,300 yuan per tonne

Aluminum: 11,660-11,750 yuan per tonne

Lead: 13,180-13,300 yuan per tonne

Zinc: 13,500-13,650 yuan per tonne

Tin: 97,500-98,500 yuan per tonne

Nickel: 75,700-76,800 yuan per tonne

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

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