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US Positive Data to Boost Dollar, Eying Caution from Money Supply, SMM Says
Nov 29, 2016 09:19Source:SMM
Overnight price declines in major base metal markets are expected to raise market caution on Tuesday, Shanghai Metals Market predicts.
SHANGHAI, Nov. 29 (SMM) – Overnight price declines in major base metal markets are expected to raise market caution on Tuesday, Shanghai Metals Market predicts.
“Most base metals fell back in overnight trading, and in the short run, investors should pay attention to money supply, which serves as a major driving factor, in addition to a strong dollar,” SMM says.
Key Macroeconomic Indicators for Base Metal Prices (2016-11-29)
Copper: 48,000-48,800 yuan per tonne
Aluminum: 13,500-13,800 yuan per tonne
Lead: 22,600-22,800 yuan per tonne
Zinc: 24,000-24,350 yuan per tonne
Tin: 145,000-148,000 yuan per tonne
Nickel: 94,000-96,500 yuan per tonne
Note: Prices all above are for most-actively traded contract on the SHFE.
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