SMM Price Outlook for Base Metals on SHFE (Mar. 10, 2017)

Published: Mar 10, 2017 09:18

Save

Overnight, base metals largely closed lower, and on Friday, the reading of US nonfarm payrolls for February will be closely watched.

SHANGHAI, Mar. 10 (SMM) – Overnight, base metals largely closed lower, and on Friday, the reading of US nonfarm payrolls for February will be closely watched.

Key Macroeconomic Indicators for Base Metal Prices (2017-3-10)

Product	Price Range
Copper	46,000-46,500
Aluminum	13,550-13,850
Lead	17,500-18,200
Zinc	21,650-21,950
Tin	140,000-143,000
Nickel	83,600-85,200

Unit: yuan/tonne

Source: SMM

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

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

base metals base metal prices base metal price forecast

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 mins ago

China's sulphuric acid market sees widespread regional declines; maintenance conclusion coupled with weakening demand drags prices down [SMM Sulphuric Acid Weekly Review]

China's Sulphuric Acid Market Sees Widespread Regional Declines, Maintenance Ends and Weakening Demand Weigh on Prices [SMM Sulphuric Acid Weekly Review]

10 mins ago

25 mins ago

Supply Tight, Cargo Hard to Find; Shanghai Spot Copper Premiums Remain Strong [SMM Shanghai Spot Copper]

[SMM Shanghai spot copper] Tomorrow, the currently available spot copper remains tight, at a year-to-date low, and the inventory destocking trend remains unchanged. Moreover, the backwardation structure has widened. Intraday, suppliers continued to raise their quotes, showing a strong willingness to hold prices firm. Overall, under the combined influence of tight available supply, suppliers holding prices firm, and downstream just-in-time procurement, SHFE copper spot prices against the 2608 contract next Monday are expected to maintain a premium, with the overall premium center continuing to rise.

25 mins ago

1 hour ago

[SMM Ex-China Copper Scrap Weekly Review] Copper prices moved sideways, while the ex-China secondary copper discount stabilized at highs

1 hour ago