Base Metal to Stay Downward Pressures, SMM Says

Published: May 13, 2016 09:20

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Base metal prices on the SHFE are expected to stay weak on Friday, Shanghai Metals Market foresees.

SHANGHAI, May 13 (SMM) – Base metal prices on the SHFE are expected to stay weak on Friday, Shanghai Metals Market foresees.

“Base metal market overnight saw sharp losses, and downward pressures are expected to be continuing today, despite of some price corrections” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-13)

Copper: 35,200-35,600 yuan per tonne

Aluminum: 11,900-12,100 yuan per tonne

Lead: 12,850-13,000 yuan per tonne

Zinc: 14,750-15,250 yuan per tonne

Tin: test support at 106,630 yuan per tonne

Nickel: 68,000-70,000 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.

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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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