SHANGHAI, Nov. 24 (SMM) – Zinc and lead prices on the SHFE market are expected to outperform others on Nov. 24, Shanghai Metals Market foresees.
“All base metals on the SHFE, except zinc and lead, dropped during night trading hours, and such divergent trading is expected to continue today,” SMM says.
The news of production cuts was believed to the reason behind Shanghai’s stronger zinc and lead prices.
A close eye should be paid to short-covering on the SHFE base metal market, especially nickel, SMM points out.
The US dollar is expected to keep rising with the release of data, continuing to weigh down base metal market.
Note: All prices above are forecasts for most actively-traded contracts on each market.
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