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.
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.
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