Base Metal to See Price Corrections, SMM Says

Published: May 4, 2016 09:16

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Base metal market will stage price corrections on Wednesday, Shanghai Metals Market foresees.

SHANGHAI, May 4 (SMM) – Base metal market will stage price corrections on Wednesday, Shanghai Metals Market foresees.

“The dollar is up, while oil price is down, weighing down the market, and base metal prices will lack the rising strength,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-4)

Copper: 37,100-37,550 yuan per tonne

Aluminum: 12,550-12,700 yuan per tonne

Lead: 13,200-13,350 yuan per tonne

Zinc: 15,050-15,250 yuan per tonne

Tin: 110,500-113,500 yuan per tonne

Nickel: 73,500-75,000 yuan per tonne

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

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