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Price Divergence to Continue, with Capitals Outflow, SMM Says
Jan 18, 2017 09:06Source:SMM
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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