Shanghai Base Metals to Diverge, SMM Says

Published: Dec 01, 2015 09:19 (GMT+8)

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Base metal prices on the SHFE are expected to diverge on Dec. 1, Shanghai Metals Market expects.

SHANGHAI, Dec. 1 (SMM) – Base metal prices on the SHFE are expected to diverge on Dec. 1, Shanghai Metals Market expects.

“China’s November manufacturing PMIs are expected to be poor, and this, together with a strong dollar and weak oil prices, will continue to weigh on base metal market today, and with price expected to diverge among them,” SMM says.

In the latest news, Chinese yuan has been added to the SDR basket, the IMF announced.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-1)

Copper: 34,600-35,100 yuan per tonne

Aluminum: 10,040-10,140 yuan per tonne

Lead: 12,600-12,750 yuan per tonne

Zinc: 12,600-12,800 yuan per tonne

Tin: 84,400-86,000 yuan per tonne

Nickel: 68,000-71,000 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.

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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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