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Shanghai Base Metals to Seek Direction from Chinese News, SMM Says
Mar 25, 2016 09:27Base metal prices on the SHFE are expected to seek direction from Chinese market as LME market will be closed on Friday, Shanghai Metals Market foresees.
SHANGHAI, Mar. 25 (SMM) – Base metal prices on the SHFE are expected to seek direction from Chinese market as LME market will be closed on Friday, Shanghai Metals Market foresees.
“LME market will be closed for Good Friday, and Shanghai base metals market will look for direction from Chinese equity and the dollar, and prices will be negatively affected if equities fall,” SMM says.
Key Macroeconomic Indicators for Base Metal Prices (2016-3-25)
Copper: 37,400-37,800 yuan per tonne
Aluminum: 11,520-11,650 yuan per tonne
Lead: 13,450-13,600 yuan per tonne
Zinc: 14,050-14,250 yuan per tonne
Tin: challenge 112,500 yuan per tonne
Nickel: 67,500-68,800 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
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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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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