Base Metals to Come under US Dollar Pressure, with Price Divergence Expected, SMM Says

Published: Feb 20, 2017 09:11

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Base metal prices are expected to come under pressure from a strong dollar, Shanghai Metals Market predicts.

SHANGHAI, Feb. 20 (SMM) – Base metal prices are expected to come under pressure from a strong dollar, Shanghai Metals Market predicts.

"The dollar is estimated to lurch higher, and this will weigh on base metals, and Shanghai prices are expected to keep diverging," SMM says.

This week, eyes should be paid to strike negotiations at mines, and new environmental protection inspections and downstream purchases in China, SMM adds.

Copper: 48,000-48,800 yuan per tonne
Aluminum: 13,850-14,100 yuan per tonne
Lead: 18,400-18,800 yuan per tonne
Zinc: 22,850-23,350 yuan per tonne
Tin: 144,000-147,000 yuan per tonne
Nickel: 90,500-92,200 yuan per tonne

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

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