Base Metals to Subject to Market Sentiment, with Eyes on US Q3 GDP Results

Published: Oct 28, 2016 09:31

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Base 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.

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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