China Factors and Oil Prices to Determine Base Metal Prices This Week, SMM Says

SHANGHAI, Apr. 11 (SMM) – This week, a slew of major Chinese economic data will be due for release this week, and base metal prices will be subjected to results of those figures, Shanghai Metals Market foresees. 

“Base metal prices on the SHFE are expected to trade slightly lower this week from the previous level, with eyes on China’s data, and oil prices will be also another major influential price factor,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-4-11)

Copper: 35,700-36,050 yuan per tonne

Aluminum: 11,700-11,800 yuan per tonne

Lead: 13,000-13,200 yuan per tonne

Zinc: 14,000-14,150 yuan per tonne

Tin: 108,000-110,000 yuan per tonne

Nickel: 66,600-67,700 yuan per tonne

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

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