Base Metals to Stay Weak and Diverge, SMM Says

Published: May 26, 2016 09:27

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SHFE base metals prices are expected to remain low but will diverge today, SMM says.

SHANGHAI, May 26 (SMM) - SHFE base metals prices are expected to remain low but will diverge today, SMM says.

“Base metals on the SHFE still face pressure from moving averages, and any possible hawkish statement by St. Louis Fed chair may drive up the US dollar and in turn weigh on base metals.” SMM explains.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-26)

Copper: 35,450-35,850 yuan per tonne

Aluminum: 11,900-12,050 yuan per tonne

Lead: 12,600-12,750 yuan per tonne

Zinc: 14,550-14,750 yuan per tonne

Tin: 104,000-106,000 yuan per tonne

Nickel: 66,200-68,000 yuan per tonne

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

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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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