Base Metals to Get Support from Weak Dollar, SMM Says

SHANGHAI, Feb. 9 (SMM) – Base metal prices on the SHFE are expected to find solid support at the lower moving averages, Shanghai Metals Market predicts.

“Price support at the lower end for most base metals is solid, and meanwhile, the US dollar is expected to come under pressures as Trump will likely reiterate his opposition to a strong dollar during the upcoming meet with Japan PM Abe,” SMM says. 

Copper: 47,500-48,000 yuan per tonne
Aluminum: 13,780-14,000 yuan per tonne
Lead: 19,100-19,800 yuan per tonne
Zinc: 22,950-23,300 yuan per tonne
Tin: 143,000-146,000 yuan per tonne
Nickel: 86,400-87,600 yuan per tonne

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

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