Base Metals to Get Support from China CPI Reading, SMM Says-Shanghai Metals Market

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Base Metals to Get Support from China CPI Reading, SMM Says

Industry News 09:16:34AM Nov 09, 2016 Source:SMM

SHANGHAI, Nov. 9 (SMM) – Base metal prices on the SHFE are expected to hold firm on Wednesday during Asian trading hours, Shanghai Metals Market foresees. 

“Markets await US’s presidential election result, and during Asian trading hours on Wednesday, China’s CPI reading for October, which is expected to be positive, will support firm prices in base metal market,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-11-9)

Copper: 41,200-42,000 yuan per tonne
Aluminum: 13,500-13,700 yuan per tonne
Lead: 16,850-16,950 yuan per tonne
Zinc: 19,900-20,400 yuan per tonne
Tin: 148,000-151,000 yuan per tonne
Nickel: 88,500-91,500 yuan per tonne

Note: Prices all above are for most-actively traded contract on the SHFE. 

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

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49430.0
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(-0.34%)
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51.5
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50.5
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73.5
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Base Metals to Get Support from China CPI Reading, SMM Says

Industry News 09:16:34AM Nov 09, 2016 Source:SMM

SHANGHAI, Nov. 9 (SMM) – Base metal prices on the SHFE are expected to hold firm on Wednesday during Asian trading hours, Shanghai Metals Market foresees. 

“Markets await US’s presidential election result, and during Asian trading hours on Wednesday, China’s CPI reading for October, which is expected to be positive, will support firm prices in base metal market,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-11-9)

Copper: 41,200-42,000 yuan per tonne
Aluminum: 13,500-13,700 yuan per tonne
Lead: 16,850-16,950 yuan per tonne
Zinc: 19,900-20,400 yuan per tonne
Tin: 148,000-151,000 yuan per tonne
Nickel: 88,500-91,500 yuan per tonne

Note: Prices all above are for most-actively traded contract on the SHFE. 

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