Base Metals to Stay Weak as Investors Withdraw before Holiday, SMM Says

Published: Jun 8, 2016 09:31

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SHFE base metals prices are expected to remain weak today as investors are expected to retreat from the market due to China’s Dragon Boat Festival, SMM predicts.

SHANGHAI, Jun. 8 (SMM) - SHFE base metals prices are expected to remain weak today as investors are expected to retreat from the market due to China’s Dragon Boat Festival, SMM predicts.

“Today is the last trading day before the Dragon Boat Festival in China. Trading will be very quite.” one SMM analyst said. “SHFE night session will also suspend today.”

Copper: 35,100-35,350 yuan per tonne

Aluminum: 11,600-11,840 yuan per tonne

Lead: 12,650-12,800 yuan per tonne

Zinc: 15,500-15,750 yuan per tonne

Tin: 108,000-109,500 yuan per tonne

Nickel: 67,700-69,100 yuan per tonne

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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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