SMM Price Outlook for Base Metals on SHFE (Sept. 28, 2017)

Published: Sep 28, 2017 09:15

Save

On Wednesday’s night trading, a rising dollar weighed down base metals, and prices are expected to keep diverging.

SHANGHAI, Sept. 28 (SMM) – On Wednesday’s night trading, a rising dollar weighed down base metals, and prices are expected to keep diverging.

SMM Weekly Price Outlook for Base Metals on LME and SHFE (Sept. 25-29, 2017)

Product	Price Range
Copper	50,000-50,600
Aluminum	16,200-16,500
Lead	20,400-20,700
Zinc	25,480-25,940
Tin	145,400-147,000
Nickel	82,800-83,800

Unit: yuan/tonne

Source: SMM

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

base metals base metal prices base metal price forecast

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 mins ago

Copper Prices Fell Sharply, Downstream Buyers Actively Replenished Inventories, and Spot Premiums Rose Significantly [SMM South China Spot Copper]

21 mins ago

23 mins ago

Sharp Decline in Copper Prices Stimulated Downstream Demand, Suppliers Held Prices Firm [SMM North China Spot Copper]

Today, spot #1 copper cathode in North China was quoted at a discount of 40 yuan/mt to a premium of 40 yuan/mt against the front-month contract, with the average premium/discount at parity, up 60 yuan/mt from the previous trading day. The average transaction price was 95,645 yuan/mt, down 3,375 yuan/mt from the previous trading day.

23 mins ago

2 hours ago

Shanghai Copper Futures Continued to Fall, and Downstream Restocking Transactions Were Smooth

During the day, the SHFE 2604 copper contract extended its downward trend, with the trading range falling further to 95,500-96,000 yuan/mt. The center of copper prices continued to move lower, stimulating restocking demand from downstream enterprises. Suppliers accordingly held prices firm, with standard-quality copper such as JCC and Lufang quoted at parity, while other brands such as Tiefeng, OLYDA, and Zijin were successively traded at discounts of 40 yuan/mt to 20 yuan/mt. Overall transaction pace was smooth. According to SMM, order volumes at most downstream enterprises surged significantly from the previous period, and end-user cargo pick-up also improved. The pullback in copper prices increased their attractiveness to enterprises, and purchase willingness to buy the dip was strong.

2 hours ago