Shanghai to See Base Metal Price Rising Year-End, SMM Says

Published: Dec 25, 2015 09:19

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LME market is closed for Christmas holiday, and base metal prices on the SHFE are expected to advance on Friday, Shanghai Metals Market foresees.

SHANGHAI, Dec. 25 (SMM) – LME market is closed for Christmas holiday, and base metal prices on the SHFE are expected to advance on Friday, Shanghai Metals Market foresees.

“A year-end buoyant market is expected in SHFE market, with absence of news from the LME for the holiday,” SMM says.

In other news, market expectations over looser liquidity are growing at the end of year, and a possible cut in interest rate or reserve ratio may be introduced by China’s central bank.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-25)

Copper: 36,000-36,500 yuan per tonne

Aluminum: 10,880-11,000 yuan per tonne

Lead: 13,020-13,170 yuan per tonne

Zinc: 12,950-13,150 yuan per tonne

Tin: 93,000-94,000 yuan per tonne

Nickel: 69,000-70,000 yuan per tonne

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

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