Diverging Trends to Continue in Shanghai Base Metal Market, SMM Says

SHANGHAI, Jan. 7 (SMM) – Base metal market is expected to continue its diverging trends on Jan. 7, Shanghai Metals Market predicts. 

“Markets will digest the minutes of US Fed’s December meeting, and market sentiment remains weak, and diverging trends are expected to continue into today’s market,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-1-7)  

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

Aluminum: 10,483-10,743 yuan per tonne

Lead: 13,070-13,240 yuan per tonne

Zinc: 13,000-13,200 yuan per tonne

Tin: 92,000-93,000 yuan per tonne

Nickel: 68,000-69,500 yuan per tonne

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

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