Base Metals to Diverge after US Rate Hike, SMM Says

Published: Dec 15, 2016 09:27

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Base metal prices are expected to diverge on Thursday after US’s rate hike decision, Shanghai Metals Market predicts.

SHANGHAI, Dec. 15 (SMM) – Base metal prices are expected to diverge on Thursday after US’s rate hike decision, Shanghai Metals Market predicts.

“The dollar surged as the highly-anticipated rate hike by US’s Federal Reserve came true, and Shanghai prices will feel pressures from a strong dollar to move divergently on Thursday,” SMM says.

Copper: 46,200-46,900 yuan per tonne
Aluminum: 12,800-13,000 yuan per tonne
Lead: 20,200-20,700 yuan per tonne
Zinc: 22,600-23,000 yuan per tonne
Tin: 146,000-149,000 yuan per tonne
Nickel: 93,500-97,000 yuan per tonne

Note: Prices all above are for most-actively traded contract on the SHFE.

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