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

Industry News 09:23:29AM Nov 02, 2016 Source:SMM

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. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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

Industry News 09:23:29AM Nov 02, 2016 Source:SMM

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. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.