Base Metals to Lack Rising Momentum, Eying on Yellen’s Testimony, SMM Says -Shanghai Metals Market

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Base Metals to Lack Rising Momentum, Eying on Yellen’s Testimony, SMM Says 

SMM Insight 09:20:22AM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – Base metal prices on the SHFE are expected to continue trading in a weak tone on Thursday, Shanghai Metals Market predicts. 

“The fallback of zinc and lead overnight indicates the lack of rising strength in the market, and attention should be paid to testimony by US Federal Reserve’s Chairwoman,” SMM says.  

Key Macroeconomic Indicators for Base Metal Prices (2016-11-17)

Copper: 43,700-44,200 yuan per tonne
Aluminum: 13,200-13,500 yuan per tonne
Lead: 17,880-18,080 yuan per tonne
Zinc: 20,870-21,420 yuan per tonne
Tin: 140,000-143,000 yuan per tonne
Nickel: 90,500-93,000 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.

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Base Metals to Lack Rising Momentum, Eying on Yellen’s Testimony, SMM Says 

SMM Insight 09:20:22AM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – Base metal prices on the SHFE are expected to continue trading in a weak tone on Thursday, Shanghai Metals Market predicts. 

“The fallback of zinc and lead overnight indicates the lack of rising strength in the market, and attention should be paid to testimony by US Federal Reserve’s Chairwoman,” SMM says.  

Key Macroeconomic Indicators for Base Metal Prices (2016-11-17)

Copper: 43,700-44,200 yuan per tonne
Aluminum: 13,200-13,500 yuan per tonne
Lead: 17,880-18,080 yuan per tonne
Zinc: 20,870-21,420 yuan per tonne
Tin: 140,000-143,000 yuan per tonne
Nickel: 90,500-93,000 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.