SMM Price Outlook for Base Metals on SHFE (Jun. 2, 2017)

Published: Jun 02, 2017 09:47 (GMT+8)

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Base metals on the SHFE met strong resistance at moving averages, except tin, during Thursday’s night session.

SHANGHAI, Jun. 2 (SMM) – Base metals on the SHFE met strong resistance at moving averages, except tin, during Thursday’s night session. Divergence will continue among base metals on Friday and upcoming US non-farm payrolls data should trigger price volatility.

Key Macroeconomic Indicators for Base Metal Prices (2017-6-2)

Product	Price Range
Copper	45,200-45,600
Aluminum	13,700-13,900
Lead	16,000-16,300
Zinc	21,600-21,900
Tin	142,500-144,500
Nickel	71,700-73,100

Unit: yuan/tonne

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

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