Base Metals to See Downward Pressures, SMM Says

Published: Oct 21, 2016 09:31

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Base metal prices on the SHFE are expected to come under downward pressures on Friday, Shanghai Metals Market foresees.

SHANGHAI, Oct. 21 (SMM) – Base metal prices on the SHFE are expected to come under downward pressures on Friday, Shanghai Metals Market foresees.

“A strengthening dollar hit the commodity market overnight, and small rally may be seen in base metal market, but some products will be continuing to be exposed to downward risks,” SMM says.

Copper: 37,050-37,350 yuan per tonne
Aluminum: 12,420-12,600 yuan per tonne
Lead: 15,450-15,650 yuan per tonne
Zinc: 18,050-18,250 yuan per tonne
Tin: 129,000-131,000 yuan per tonne
Nickel: 79,000-81,000 yuan per tonne

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

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