SMM Price Outlook for Base Metals on SHFE (May 8, 2017)

Published: May 8, 2017 09:07

Save

Base metals mostly finished higher last Friday’s night trading, but still met resistance at higher prices. The further rising momentum will be small, with price divergence expected among them.

SHANGHAI, May 8 (SMM) – Base metals mostly finished higher last Friday’s night trading, but still met resistance at higher prices. The further rising momentum will be small, with price divergence expected among them.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-8)

Product	Price Range
Copper	45,150-45,600
Aluminum	13,850-14,050
Lead	15,800-16,300
Zinc	21,150-21,550
Tin	140,000-142,500
Nickel	75,800-77,200

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 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

2 hours ago

Gulf disruption squeezes Indonesia nickel makers' sulphur supply

Due to the conflict in the Middle East, shipping through the Strait of Hormuz has been disrupted, raising the risk of tighter global sulphur supplies. Indonesia relies on the Middle East for around 75% of its sulphur imports, and sulphur is a key raw material for producing sulphuric acid, which is essential for leaching metals in nickel and copper processing. Analysts note that sulphur inventories at Indonesia’s HPAL nickel plants typically cover only one to two months of consumption. If transport disruptions persist, some plants may be forced to cut production as early as next month. Overall, if shipping disruptions in the Middle East continue for more than a few weeks, production and demand for related metals may need to slow.

2 hours ago

7 hours ago

SHFE Copper Warrants Up by 11,856 MT, Total Reaches 315,488 MT

[SMM Shanghai Spot Copper] Intraday SHFE copper futures warrants increased by 11,856 mt, bringing the total to 315,488 mt. Of this, the Shanghai area increased by 8,871 mt, Guangdong decreased by 125 mt, and Jiangsu decreased by 3,110 mt.

7 hours ago

8 hours ago

Geopolitical Risks Intensified; the Most-Traded BC Copper Contract Closed Down 0.41% [SMM BC Copper Commentary]

8 hours ago