Base Metals to See Speculative Enthusiasm Wane, SMM Says

Published: Apr 22, 2016 09:21

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Sentiment waned in base metal futures market overnight, and this will continue to affect Friday’s trading, Shanghai Metals Market foresees.

SHANGHAI, Apr. 22 (SMM) – Sentiment waned in base metal futures market overnight, and this will continue to affect Friday’s trading, Shanghai Metals Market foresees.

“Speculative momentum has waned to some extent in base metal market, with bigger divergence expected among products, and eyes should be also paid to changes in ferrous metals and iron ore market,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-4-22)

Copper: 37,700-38,100 yuan per tonne

Aluminum: 12,500-12,700 yuan per tonne

Lead: 13,420-13,570 yuan per tonne

Zinc: 14,800-15,450 yuan per tonne

Tin: 109,000-112,000 yuan per tonne

Nickel: 71,500-75,000 yuan per tonne

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

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