SMM Weekly Price Outlook for Base Metals on LME and SHFE (Jul. 24-28, 2017)

Published: Jul 24, 2017 13:26

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Last week, base metals gathered rising strength after the dollar hit a low since last August, but later fell back after meeting resistance.

SHANGHAI, Jul. 24 (SMM) – Last week, base metals gathered rising strength after the dollar hit a low since last August, but later fell back after meeting resistance. This week, longs in base metal market are expected to keep trying higher prices.

China Base Metal Output Data in June 2017, SMM Exclusive Data

	LME 3-M (USD/mt)	SHFE 3-M (RMB/mt)
Copper	5930-6100	47300-48500
Aluminum	1910-1945	14300-14550
Zinc	2730-2800	22500-23000
Lead	2200-2235	17200-17650
Tin	19800-20200	143500-147600
Nickel	9350-9650	76200-78500

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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