Divergence to Continue in Base Metals, Eying on UK Rate Meeting, SMM Says

SHANGHAI, Aug. 4 (SMM) – Base metal prices on the SHFE are expected to continue diverging on Thursday, Shanghai Metals Market foresees. 

“Market focus is on UK’s August rate meeting on Thursday, and meanwhile, the dollar’s response to June durable goods orders and job data should be also watched,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-8-4) 

Copper: 37,500-38,000 yuan per tonne

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

Lead: 13,800-14,000 yuan per tonne

Zinc: 17,200-17,500 yuan per tonne

Tin: 118,500-120,000 yuan per tonne

Nickel: 83,000-85,000 yuan per tonne

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

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