Rising Momentum to Support Base Metal Prices, SMM Says

Published: Apr 13, 2016 09:23

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Base metal prices on the SHFE are expected to show divergent trends, with some continuing advancing, Shanghai Metals Market foresees.

SHANGHAI, Apr. 12 (SMM) – Base metal prices on the SHFE are expected to show divergent trends, with some continuing advancing, Shanghai Metals Market foresees.

“Rising prices of oil and ferrous metals pushed up overnight prices, and price gains are expected to continue in some markets, and news of oil market will continue to affect market sentiment,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-4-13)

Copper: 36,550-36,950 yuan per tonne

Aluminum: 11,900-12,080 yuan per tonne

Lead: 13,200-13,400 yuan per tonne

Zinc: 14,250-14,750 yuan per tonne

Tin: 109,000-111,000 yuan per tonne

Nickel: 69,000-71,000 yuan per tonne

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

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