SHANGHAI, Nov. 18 (SMM) – Base metal prices on the SHFE are expected to look for a direction while fluctuating on Friday, Shanghai Metals Market predicts.
“The hawkish speech by US Federal Reserve’s chairwomen indicates a very high possibility of rate hike in December’s meeting, but the response from base metals is mild, and Shanghai prices are expected to fluctuate for a direction,” SMM says.
Copper: 44,200-44,700 yuan per tonne
Aluminum: 13,400-13,600 yuan per tonne
Lead: 17,780-17,980 yuan per tonne
Zinc: 20,700-21,000 yuan per tonne
Tin: 141,500-144,500 yuan per tonne
Nickel: 89,500-92,000 yuan per tonne
Note: Prices all above are for most-actively traded contract on the SHFE.