Rising Dollar to Weigh Down Base Metals, SMM Says

Published: May 19, 2016 09:15

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Base metal prices on the SHFE market are expected to be negatively affected by a strong dollar on Thursday, Shanghai Metals Market foresees.

SHANGHAI, May 19 (SMM) – Base metal prices on the SHFE market are expected to be negatively affected by a strong dollar on Thursday, Shanghai Metals Market foresees.

“The dollar is now gaining momentum from April’s rate meeting minutes just released, and this will weigh down base metal market,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-19)

Copper: 35,200-35,700 yuan per tonne

Aluminum: 12,200-12,420 yuan per tonne

Lead: 12,700-12,850 yuan per tonne

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

Tin: 105,000-107,500 yuan per tonne

Nickel: 66,800-68,400 yuan per tonne

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

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