SHANGHAI, Mar. 7 (SMM) – Base metal prices on the SHFE are poised to rise this week, Shanghai Metals Market foresees.
“China sets its 2016 growth target at 6.5-7% during the ongoing CPC&NPPCC meetings, and market expectations over policy support are expected to boost market sentiment,” SMM points out.
This week will also see result of ECB’s rate meeting, and if its policy eases further, market bullish sentiment will be assured.
Copper: 38,400-38,700 yuan per tonne
Aluminum: 11,470-11,650 yuan per tonne
Lead: 13,800-14,000 yuan per tonne
Zinc: 14,350-14,800 yuan per tonne
Tin: 113,000-115,000 yuan per tonne
Nickel: 71,000-75,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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