Strengthening Dollar to Weigh Down Base Metals, SMM Says

Published: Feb 8, 2017 09:19

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Base metal prices on the SHFE are expected to come under pressures from a strong dollar, Shanghai Metals Market predicts.

SHANGHAI, Feb. 8 (SMM) – Base metal prices on the SHFE are expected to come under pressures from a strong dollar, Shanghai Metals Market predicts.

"The dollar is expected to strengthen in the short term, and this will weigh down base metal prices,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2017-2-8)

Copper: 46,500-47,050 yuan per tonne
Aluminum: 13,550-13,800 yuan per tonne
Lead: 18,500-19,000 yuan per tonne
Zinc: 22,600-22,950 yuan per tonne
Tin: 142,000-144,500 yuan per tonne
Nickel: 85,200-87,000 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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