Base Metal to Lack of Rising Strength This Week, SMM Says

Published: Nov 09, 2015 10:13 (GMT+8)

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Base metal prices are expected to lack the rising momentum this week, Shanghai Metals Market foresees.

SHANGHAI, Nov. 9 (SMM) – Base metal prices are expected to lack the rising momentum this week, Shanghai Metals Market foresees.

“A rebound is possible in base metal market after recent sharp losses, but a stronger dollar, and overall unfavorable macro-front news will give little support to prices,” SMM points.

A slew of economic data will be released this week from China and Europe, including CPI, PPI and GDP results.

Copper: 37,750-38,000 yuan per tonne

Aluminum: 10,600-10,700 yuan per tonne

Lead: 12,920-13,060 yuan per tonne

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

Tin: 91,200-92,200 yuan per tonne

Nickel: 74,000-75,200 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.

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