Base Metals to Keep Diverging, SMM Says

SHANGHAI, Oct. 24 (SMM) – Base metal prices on the SHFE are expected to keep diverging this week, Shanghai Metals Market foresees. 

“Impact from macro-data is expected to be limited this week, and Chinese yuan’s depreciation is going to be a key factor on the market,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-10-24)

Copper: 37,050-37,350 yuan per tonne
Aluminum: 12,680-12,880 yuan per tonne
Lead: 15,600-15,800 yuan per tonne
Zinc: 18,050-18,200 yuan per tonne
Tin: 130,500-132,500 yuan per tonne
Nickel: 78,800-80,500 yuan per tonne

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

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