Rising Momentum Wanes in Base Metal Market, SMM Says

Published: Apr 26, 2016 09:17

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Base metal prices on the SHFE market are expected to move weakly on Tuesday, Shanghai Metals Market foresees.

SHANGHAI, Apr. 26 (SMM) – Base metal prices on the SHFE market are expected to move weakly on Tuesday, Shanghai Metals Market foresees.

“Rising momentum is waning in base metal market with falling prices of ferrous metals and oil, while impact from data due for release today will be also small, and with intense struggles expected in some markets,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-4-26)

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

Aluminum: 12,800-13,000 yuan per tonne

Lead: 13,280-13,400 yuan per tonne

Zinc: 14,900-15,150 yuan per tonne

Tin: 108,500-111,000 yuan per tonne

Nickel: 71,000-72,500 yuan per tonne

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

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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 communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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