Shanghai Base Metal Prices to Continue Falling, SMM Says

Published: Nov 06, 2015 10:50 (GMT+8)

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Base metal prices on the SHFE are expected to continue falling on Nov. 6, Shanghai Metals Market foresees.

SHANGHAI, Nov. 6 (SMM) – Base metal prices on the SHFE are expected to continue falling on Nov. 6, Shanghai Metals Market foresees.

“A strong dollar remains a major factor behind the expected drop, and crude oil market will also affect Shanghai metal prices,” SMM says, citing a weaker correlation between China’s stock market and Shanghai metal prices.

Copper: 37,500-38,100 yuan per tonne

Aluminum: 10,550-10,650 yuan per tonne

Lead: 12,900-13,050 yuan per tonne

Zinc: 13,400-13,550 yuan per tonne

Tin: 91,500-92,500 yuan per tonne

Nickel: 74,300-75,800 yuan per tonne

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

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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.

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