Base Metal to Rise First This Week, SMM Says

Published: Jan 25, 2016 09:23

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Base metal prices are expected to rise at first this week, Shanghai Metals Market foresees.

SHANGHAI, Jan. 25 (SMM) – Base metal prices are expected to rise at first this week, Shanghai Metals Market foresees.

“Prices are expected to get a boost from growing pre-holiday stocking and transportation disruption in bad weather, but as the week progresses, risky events and improved weather will negatively affect prices,” SMM says.

The US’s interest rate meeting for January will be closely watched later this week.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-25)

Copper: 35,000-35,300 yuan per tonne

Aluminum: 10,710-10,950 yuan per tonne

Lead: 12,800-12,900 yuan per tonne

Zinc: 12,700-12,900 yuan per tonne

Tin: 96,500-98,500 yuan per tonne

Nickel: 69,000-71,000 yuan per tonne

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

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