Base Metals to Lurch Upper, SMM Says

SHANGHAI, Jan. 11 (SMM) – Base metal prices are expected to trade higher on Wednesday, Shanghai Metals Market predicts. 

“Rising strength of the dollar is faltering, and the greenback is expected to fall into bound-range trading, with eyes today on Obama’s farewell speech and Trump’s press conference, and Shanghai prices on Wednesday are expected to outperform Tuesday’s level,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2017-1-11)

Copper: 46,000-47,000 yuan per tonne
Aluminum: 12,800-13,080 yuan per tonne
Lead: 18,400-19,100 yuan per tonne
Zinc: 22,300-22,700 yuan per tonne
Tin: 154,000-156,000 yuan per tonne
Nickel: 87,000-89,200 yuan per tonne

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

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