SMM Price Outlook for Base Metals on SHFE (May 4, 2017)

Published: May 4, 2017 09:13

Save

Base metals mostly finished lower in overnight trading.

SHANGHAI, May 4 (SMM) – Base metals mostly finished lower in overnight trading, and prices of some metals are likely to stabilize or even rally after digesting short-term negative news, excluding those which will stay on the downward track.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-4)

Product	Price Range
Copper	45,400-45,800
Aluminum	13,850-14,100
Lead	16,000-16,400
Zinc	21,300-21,800
Tin	141,000-143,000
Nickel	77,200-78,800

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 to learn 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

3 hours ago

Mongolia Seeks to Renegotiate "Unfair" Terms of $18B Rio Tinto Copper Mine Deal

According to a Monday report by the Financial Times, Mongolia was seeking to renegotiate the "unfair" commercial terms of the $18 billion Oyu Tolgoi copper mine owned by mining giant Rio Tinto.The report said Mongolian Prime Minister Gombojavyn Zandanshatar stated at a meeting that the current agreement between the two sides was "unfair."The report said Mongolian government officials would meet with Rio Tinto executives this week to discuss the terms of the deal.

3 hours ago

Fortescue Completes Acquisition of Alta Copper, Secures 100% Stake in Peru's Caariaco Mine

Diversified Mining Company Fortescue has completed the acquisition of Alta Copper, securing the Caariaco copper mine project in northern Peru.The acquisition was carried out through a Canadian plan of arrangement, under which Fortescue subsidiary Nascent.Exploration acquired all issued and outstanding shares of Alta Copper not already held by the group.Following the completion of the transaction, Fortescue holds a 100% stake in the Caariaco copper mine.Fortescue CEO Gus Pichot said that copper remains central to the company’s diversification strategy.

3 hours ago

Lundin Mining to Pay $215M for 5% More in Caserones Mine, 30.9% in Los Helados; Stake Rises to 75%

Base Metal Producer Lundin Mining Agreed to Pay $215 Million to Purchase an Additional 5% Stake in the Caserones Copper/Molybdenum Mine in Chile and a 30.9% Stake in the Nearby Los Helados Project.These assets were acquired from JX Advanced Metals and its affiliates.Once the transaction is completed, Lundin Mining’s ownership interest in the business will increase from 70% to 75%.

3 hours ago