SMM Weekly Price Outlook for Base Metals on LME and SHFE (Sept. 18-22, 2017)

Published: Sep 20, 2017 11:26

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Last week, base metals registered big declines due to a rally of US dollar and the surge in inventories of some products.

SHANGHAI, Sept. 20 (SMM) - Last week, base metals registered big declines due to a rally of US dollar and the surge in inventories of some products. Market expectations over consumption during a traditionally peak-demand season will support market price.

Base metals are estimated to remain in corrections this week.

	LME 3-M (USD/mt)	SHFE 3-M (RMB/mt)
Copper	6,370-6,600	49,850-51,000
Aluminum	2,070-2,100	15,950-16,550
Zinc	2,980-3,080	24,500-25,200
Lead	2,270-2,350	19,500-20,100
Tin	20,400-20,700	141,800-145,000
Nickel	10,750-11,500	86,500-91,000

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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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