Shanghai Base Metal Prices to Continue Falling, SMM Says

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. 

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