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

Published: Jan 7, 2016 09:22

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Base metal market is expected to continue its diverging trends on Jan. 7, Shanghai Metals Market predicts.

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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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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