SHANGHAI, Nov. 28 (SMM) – Base metal prices on the SHFE are expected to stay firm despite of upcoming major news both economically and politically, Shanghai Metals Market foresees.
“This week, a slew of major news will be released, including US non-farm payrolls, OPEC meeting and Italy’s constitutional referendum, and base metals will keep firm due to a weak Chinese yuan,” SMM says.
Copper: 48,000-48,850 yuan per tonne
Aluminum: 13,700-13,900 yuan per tonne
Lead: 21,050-21,250 yuan per tonne
Zinc: 23,400-24,000 yuan per tonne
Tin: 145,000-148,000 yuan per tonne
Nickel: 94,500-97,200 yuan per tonne
Note: Prices all above are for most-actively traded contract on the SHFE.