Shanghai Base Metals to Diverge, SMM Says

SHANGHAI, Dec. 1 (SMM) – Base metal prices on the SHFE are expected to diverge on Dec. 1, Shanghai Metals Market expects. 

“China’s November manufacturing PMIs are expected to be poor, and this, together with a strong dollar and weak oil prices, will continue to weigh on base metal market today, and with price expected to diverge among them,” SMM says. 

In the latest news, Chinese yuan has been added to the SDR basket, the IMF announced. 

Key Macroeconomic Indicators for Base Metal Prices (2015-12-1)

Copper: 34,600-35,100 yuan per tonne

Aluminum: 10,040-10,140 yuan per tonne

Lead: 12,600-12,750 yuan per tonne

Zinc: 12,600-12,800 yuan per tonne

Tin: 84,400-86,000 yuan per tonne

Nickel: 68,000-71,000 yuan per tonne

Note: All prices above are forecasts for most actively-traded contracts on each market. 

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