Shanghai Base Metal Prices to Rise on Positive News, SMM Says

Published: Dec 10, 2015 09:14

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Base metal prices on the SHFE are expected to rise on Thursday, Shanghai Metals Market foresees.

SHANGHAI, Dec. 10 (SMM) – Base metal prices on the SHFE are expected to rise on Thursday, Shanghai Metals Market foresees.

“The news of aluminum production cuts and stockpiling will buoy up the market today, but the rising room will be small,” SMM points out.

The US dollar, on the other hand, is not expected to get much boost from upbeat initial jobless claims.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-10)

Copper: 34,750-35,150

Aluminum: 10,360-10,520

Lead: 12,900-13,100

Zinc: 12,500-12,700

Tin: 83,500-85,500

Nickel: 66,500-69,000

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

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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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