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

Published: Aug 21, 2017 13:31

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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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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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