Base Metals to See No Rising Momentum, SMM Says

Published: May 5, 2016 09:16

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Base metal market is not expected to get rising momentum Thursday, Shanghai Metals Market foresees.

SHANGHAI, May 5 (SMM) – Base metal market is not expected to get rising momentum Thursday, Shanghai Metals Market foresees.

“No rising momentum is in sight in base metal market, and market sentiment is now cautious ahead of US non-farm payroll data,” SMM says.

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

Copper: 37,100-37,500 yuan per tonne

Aluminum: 12,450-12,600 yuan per tonne

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

Zinc: 14,900-15,100 yuan per tonne

Tin: 111,000-113,000 yuan per tonne

Nickel: 74,000-75,000 yuan per tonne

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

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