Base Metal to Get Support from Positive China Data, SMM Says

SHANGHAI, Apr. 27 (SMM) – Market sentiment in base metal market is expected to improve on Wednesday, Shanghai Metals Market foresees. 

“Rising oil price failed to boost Shanghai price in night trading compared with LME market, mainly because of weakening ferrous metals market, and if results of China’s data due for release today are positive, market sentiment will get a lift, but not much rising room is in sight,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-4-27)

Copper: 37,650-38,050 yuan per tonne

Aluminum: 12,750-12,900 yuan per tonne

Lead: 13,050-13,200 yuan per tonne

Zinc: 14,800-15,100 yuan per tonne

Tin: 107,500-109,500 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. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.