Price Divergence to Continue, with Capitals Outflow, SMM Says

Published: Jan 18, 2017 09:06

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Base metal prices are predicted to stay in a weak tone, and keep diverging on Wednesday, Shanghai Metals Market foresees.

SHANGHAI, Jan. 18 (SMM) – Base metal prices are predicted to stay in a weak tone, and keep diverging on Wednesday, Shanghai Metals Market foresees.

“Base metals overnight closed lower across the board, and capitals will likely flow out of the market with nearing of 2017 Chinese New Year holiday, and Shanghai prices are expected to keep diverging,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2017-1-18)

Copper: 45,850-47,000 yuan per tonne
Aluminum: 13,200-13,400 yuan per tonne
Lead: 18,200-18,700 yuan per tonne
Zinc: 22,300-22,600 yuan per tonne
Tin: 146,000-149,000 yuan per tonne
Nickel: 84,000-86,800 yuan per tonne

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

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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