Base Metals Get Support from Falling Dollar, SMM Says

Published: Aug 18, 2016 09:23

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Base metal prices on the SHFE are expected to get a boost from weak dollar on Thursday, Shanghai Metals Market foresees.

SHANGHAI, Aug. 18 (SMM) – Base metal prices on the SHFE are expected to get a boost from weak dollar on Thursday, Shanghai Metals Market foresees.

“The dollar has weakened after US’s July FOMC meeting minutes, giving a boost to base metal market, and the support is expected to be continuing today,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-18)

Copper: 37,100-37,600 yuan per tonne

Aluminum: 12,420-12,630 yuan per tonne

Lead: 13,500-13,700 yuan per tonne

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

Tin: 121,000-123,000 yuan per tonne

Nickel: 80,500-82,000 yuan per tonne

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

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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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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