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Base Metal to See Pressure after Oil Price Rally, SMM Says
Apr 19, 2016 09:23Base metal prices on the SHFE are expected to be refrained on Tuesday, Shanghai Metals Market foresees.
SHANGHAI, Apr. 19 (SMM) – Base metal prices on the SHFE are expected to be refrained on Tuesday, Shanghai Metals Market foresees.
“Oil price rallied after tumbling, but base metal market will meet resistance to climb higher,” SMM says.
Key Macroeconomic Indicators for Base Metal Prices (2016-4-19)
Copper: 36,700-37,100 yuan per tonne
Aluminum: 11,950-12,050 yuan per tonne
Lead: 13,250-13,420 yuan per tonne
Zinc: 14,950-15,250 yuan per tonne
Tin: 110,000-112,000 yuan per tonne
Nickel: 70,500-72,500 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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