Falling Dollar to Support Base Metal Prices, SMM Says

SHANGHAI, Mar. 16 (SMM) – Base metal prices on the SHFE are expected to be supported by a falling dollar, Shanghai Metals Market foresees. 

“The dollar tumbled after US Federal Reserve’s March meeting minutes, and this will lend some support to base metal prices,with diverging trends among products,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-17) 

Copper: 37,300-37,800 yuan per tonne

Aluminum: 11,240-11,360 yuan per tonne

Lead: 13,430-13,600 yuan per tonne

Zinc: 13,950-14,100 yuan per tonne

Tin: 109,000-110,000 yuan per tonne

Nickel: 67,500-69,000 yuan per tonne

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

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