Shanghai Base Metal Prices to Diverge, with Lead Prices Stronger, SMM Says

Published: Dec 11, 2015 09:50

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Base metal prices on the SHFE market are expected to show diverging trends on Dec. 11, Shanghai Metals Market predicts.

SHANGHAI, Dec. 11 (SMM) – Base metal prices on the SHFE market are expected to show diverging trends on Dec. 11, Shanghai Metals Market predicts.

“Shanghai market will see prices diverging today, and lead prices are expected to outperform others,” SMM says.

Optimistic outlook for US data will strengthen market expectations on US’s rate hike in December, so a stronger dollar will weigh down the market.

A close eye should be paid to news in aluminum and zinc market, SMM adds.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-11)

Copper: 34,800-35,150 yuan per tonne

Aluminum: 10,305-10,469 yuan per tonne

Lead: 12,800-13,090 yuan per tonne

Zinc: 12,500-12,700 yuan per tonne

Tin: 84,000-85,000 yuan per tonne

Nickel: 65,000-68,000 yuan per tonne

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

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