Shorts to Predominate Base Metal Market, SMM Says

Published: Jan 13, 2016 09:21

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Base metal market is expected to be predominated by bearish sentiment on Jan. 13, Shanghai Metals Market predicts.

SHANGHAI, Jan. 13 (SMM) – Base metal market is expected to be predominated by bearish sentiment on Jan. 13, Shanghai Metals Market predicts.

“Bearish conditions will remain strong in base metal market today, and China’s trade data is also expected to be disappointing,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-13)

Copper: 34,500-34,900 yuan per tonne

Aluminum: 10,435-10,710 yuan per tonne

Lead: 12,580-12,680 yuan per tonne

Zinc: 12,300-12,500 yuan per tonne

Tin: 96,000-97,000 yuan per tonne

Nickel: 65,000-66,500 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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