Base Metals to See Weak Trading, SMM Says-Shanghai Metals Market

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Base Metals to See Weak Trading, SMM Says

Industry News 09:16:18AM Nov 03, 2016 Source:SMM

SHANGHAI, Nov. 3 (SMM) – Base metal prices on the SHFE are expected to trade weakly on Thursday, Shanghai Metals Market foresees. 

“Market will continue digesting US Fed’s November rate meeting decision, and market expectations over December’s hike are growing, helping the dollar rally from lows, and base metals are estimated to trade weakly on Thursday,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-11-3)

Copper: 38,700-38,950 yuan per tonne
Aluminum: 13,200-13,350 yuan per tonne
Lead: 16,300-16,500 yuan per tonne
Zinc: 19,300-19,500 yuan per tonne
Tin: 135,500-137,000 yuan per tonne
Nickel: 81,500-83,200 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.

Price

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#1 Refined Cu
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49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
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51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
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50.5
0.0
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67.0
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73.5
-6.0
(-7.55%)

Base Metals to See Weak Trading, SMM Says

Industry News 09:16:18AM Nov 03, 2016 Source:SMM

SHANGHAI, Nov. 3 (SMM) – Base metal prices on the SHFE are expected to trade weakly on Thursday, Shanghai Metals Market foresees. 

“Market will continue digesting US Fed’s November rate meeting decision, and market expectations over December’s hike are growing, helping the dollar rally from lows, and base metals are estimated to trade weakly on Thursday,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-11-3)

Copper: 38,700-38,950 yuan per tonne
Aluminum: 13,200-13,350 yuan per tonne
Lead: 16,300-16,500 yuan per tonne
Zinc: 19,300-19,500 yuan per tonne
Tin: 135,500-137,000 yuan per tonne
Nickel: 81,500-83,200 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.