Base Metals to Look for Direction, SMM Says

SHANGHAI, Jan. 3 (SMM) – Base metal prices on the SHFE are expected to trade in search for a direction on the first trading week of 2017, Shanghai Metals Market predicts. 

“Both longs and shorts will look for a direction during the first trading week of new year, and so base metals are expected to trade in a wide range,” SMM says.  

Copper: 45,200-45,800 yuan per tonne
Aluminum: 12,620-12,880 yuan per tonne
Lead: 17,000-18,000 yuan per tonne
Zinc: 20,900-21,300 yuan per tonne
Tin: 145,500-148,000 yuan per tonne 
Nickel: 83,500-86,200 yuan per tonne

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

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