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.
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.