Base Metals to Be Weak, SMM Says

SHANGHAI, Jul. 28 (SMM) – Base metal prices on the SHFE are expected to be weak on Thursday, Shanghai Metals Market foresees. 

“The dollar dived after US’s FOMC minutes, easing pressures on base metals, but overall tone in the market will be weak on Thursday,” SMM says.  

Key Macroeconomic Indicators for Base Metal Prices (2016-7-28)

Copper: 37,300-37,750 yuan per tonne

Aluminum: 12,000-12,200 yuan per tonne

Lead: 13,550-13,750 yuan per tonne

Zinc: 16,700-17,000 yuan per tonne

Tin: 119,500-121,500 yuan per tonne

Nickel: 79,200-81,500 yuan per tonne

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

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