Volatility Stay on Mixed Factors, SMM Says

SHANGHAI, Jul. 14 (SMM) – Base metal prices on the SHFE are expected to continue its volatility on Thursday, Shanghai Metals Market foresees. 

“Technically, sell-off pressures are emerging after big rises, reflected by mixed trading in overnight trading, and on the other hand, global easing policy expectations will support the market, combining to add to market volatility,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-7-14)

Copper: 38,250-38,750 yuan per tonne

Aluminum: 12,550-12,750 yuan per tonne

Lead: 13,150-13,350 yuan per tonne

Zinc: 16,800-17,000 yuan per tonne

Tin: 118,000-120,000 yuan per tonne

Nickel: 79,500-81,500 per tonne

Attention should be paid to Bank of England’s upcoming rate meeting decision. 

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

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