SHANGHAI, Dec. 12 (SMM) – Base metal prices on the SHFE are expected to swing this week, Shanghai Metals Market predicts.
“US Fed’s December rate meeting will be market focus this week, in addition to manufacturing PMIs in many countries ahead of Christmas holiday, and Shanghai prices are expected to trade in a wide range this week,” SMM says.
Copper: 47,200-47,800 yuan per tonne
Aluminum: 13,300-13,500 yuan per tonne
Lead: 20,500-21,000 yuan per tonne
Zinc: 22,500-22,900 yuan per tonne
Tin: 142,500-144,500 yuan per tonne
Nickel: 94,800-97,500 yuan per tonne
Note: Prices all above are for most-actively traded contract on the SHFE.