Base Metals to Seek Price Direction, SMM Says

SHANGHAI, Aug. 8 (SMM) – Base metal prices on the SHFE are expected to see intense struggles, Shanghai Metals Market predicts. 

“The impact from US’s July non-farm data is continuing, and meanwhile, China will announce a series of economic data, and Shanghai market will seek price direction at first,” SMM says. 

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

Copper: 37,200-37,700 yuan per tonne

Aluminum: 12,170-12,360 yuan per tonne

Lead: 13,750-13,950 yuan per tonne

Zinc: 17,300-17,450 yuan per tonne

Tin: 119,000-121,000 yuan per tonne

Nickel: 81,600-83,500 yuan per tonne

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

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