Shanghai Base Metals to Consolidate at Highs, SMM Says

SHANGHAI, Mar. 4 (SMM) – Base metal prices on the Shanghai Futures Exchange are expected to consolidate at high levels on Friday, SMM predicts.

“Market expectations of additional policy supports from the NPC & CPPCC held during March 3-4 should lend a boost to base metal prices,” said an SMM analyst. “Base metals will continue to diverge, though.”

Key Macroeconomic Indicators for Base Metal Prices (2016-3-4)

Copper: 37,100-37,600 yuan per tonne

Aluminum: 11,320-11,420 yuan per tonne

Lead: 13,800-13,950 yuan per tonne

Zinc: 14,400-14,600 yuan per tonne

Tin:109,000-112,000 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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