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Home / Metal News / SMM Weekly Price Outlook for Base Metals on LME and SHFE (Aug. 21-25, 2017)

SMM Weekly Price Outlook for Base Metals on LME and SHFE (Aug. 21-25, 2017)

iconAug 21, 2017 13:31
Source:SMM
Last week, base metals hit new highs as investors flooded in, and bullish sentiment prevailed in the market, despite some declines after the US dollar index rallied to 94.

SHANGHAI, Aug. 25 (SMM) – Last week, base metals hit new highs as investors flooded in, and bullish sentiment prevailed in the market, despite some declines after the US dollar index rallied to 94.

This week, base metals are expected to stage technical corrections, but prices will hover at highs amid bullish sentiment.

LME Base Metals Cash to 3-Month Backwardation/Contango (2017-8-21)

 

LME 3~M (USD/mt)

SHFE 3~M (RMB/mt)

Copper

6420~6600

50500~51800

Aluminum

2050~2130

16100~16700

Zinc

3030~3200

25200~26800

Lead

2350~2500

19600~20500

Tin

20000~20500

143000~146000

Nickel

10600~11000

86800~89500

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