Base Metals Get Support from Falling Dollar, SMM Says

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. 

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