SMM Price Outlook for Base Metals on SHFE (May 3, 2017)

Published: May 03, 2017 09:09 (GMT+8)

Save

The dollar weakened sharply overnight, but base metals made limitedly positive response to this, a reflection of bearish sentiment in the market.

SHANGHAI, May 3 (SMM) – The dollar weakened sharply overnight, but base metals made limitedly positive response to this, a reflection of bearish sentiment in the market.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-3)

Product	Price Range
Copper	46,600-46,950
Aluminum	13,800-14,050
Lead	16,400-16,800
Zinc	22,000-22,400
Tin	142,500-145,000
Nickel	79,000-80,500

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

37 mins ago

HBIS Resources: Main part of the Phase II copper project essentially completed, currently in capacity ramp-up stage

37 mins ago

45 mins ago

Geopolitical Risks Fluctuate and Rate Hike Expectations Heat Up, Copper Prices Retreat After Rapid Rise [SMM Macro Weekly Review]

45 mins ago

46 mins ago

Invoice restrictions limit tax-exclusive supply circulation, price increase limited [SMM Secondary Copper Raw Material Weekly Review]

[SMM Analysis: Invoice Constraints Limit Tax-Exclusive Material Circulation, Capping Price Gains] This week, the price difference between copper cathode and copper scrap widened steadily from 3,141 yuan/mt at the start of the week to a weekly high of 4,626 yuan/mt. The copper scrap market showed an unusual pattern of "falling but not rising" with copper prices—when copper prices rose sharply, raw material prices only edged up (up 300 yuan/mt WoW at the start of the week and up 200 yuan/mt mid-week), while when copper prices retreated from highs, raw material prices followed downward (down 200 yuan/mt WoW at the end of the week, then down another 100 yuan/mt)...

46 mins ago