SHANGHAI, Nov. 8 (SMM) – Base metal prices on the SHFE are expected to move with China’s trade data during Asian trading hours, Shanghai Metals Market foresees.
“Bullish sentiment remained in the commodity market overnight, but the market is also exposed to downward risks. During Asian trading hours, attention should be paid to China’s October trade data, and the US presidential election will be also eyed,” SMM says.
Copper: 40,000-40,800 yuan per tonne
Aluminum: 13,300-13,500 yuan per tonne
Lead: 16,700-16,850 yuan per tonne
Zinc: 19,950-20,250 yuan per tonne
Tin: 148,500-150,500 yuan per tonne
Nickel: 87,500-90,500 yuan per tonne
Note: Prices all above are for most-actively traded contract on the SHFE.