Falling Dollar to Support Base Metal Prices, SMM Says

Published: Mar 17, 2016 09:34

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Base metal prices on the SHFE are expected to be supported by a falling dollar, Shanghai Metals Market foresees.

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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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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