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Base Metals to Subject to Market Sentiment, with Eyes on US Q3 GDP Results
Oct 28, 2016 09:31Base metal prices on the SHFE are expected to be subject to market sentiment on Friday, Shanghai Metals Market foresees.
SHANGHAI, Oct. 28 (SMM) – Base metal prices on the SHFE are expected to be subject to market sentiment on Friday, Shanghai Metals Market foresees.
“US dollar is expected to get a boost from positive outlook for US’s Q3 GDP, whether or not base metal prices will be weighed down will depend on market sentiment,” SMM says.
Key Macroeconomic Indicators for Base Metal Prices (2016-10-28)
Copper: 37,800-38,200 yuan per tonne
Aluminum: 13,700-13,900 yuan per tonne
Lead: 16,300-16,500 yuan per tonne
Zinc: 18,800-19,000 yuan per tonne
Tin: 132,500-134,500 yuan per tonne
Nickel: 81,500-83,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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