Base Metals to See Possible Larger-Scale Declines, SMM Says

Nov 2, 2016 09:23

Source:SMM

Base metal prices on the SHFE are expected to keep diverging on Wednesday, Shanghai Metals Market foresees.

SHANGHAI, Nov. 2 (SMM) – Base metal prices on the SHFE are expected to keep diverging on Wednesday, Shanghai Metals Market foresees.

“The commodity market overnight saw changes in market sentiment, with capital outgoing, and factors that previously supported higher prices may be fading away, and there is possible to see declines in more markets,” SMM says.

Copper: 38,700-39,150 yuan per tonne
Aluminum: 13,900-14,100 yuan per tonne
Lead: 16,500-16,700 yuan per tonne
Zinc: 19,600-19,800 yuan per tonne
Tin: 136,000-138,000 yuan per tonne
Nickel: 82,600-84,500 yuan per tonne

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

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Base Metals to See Possible Larger-Scale Declines, SMM Says

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