No Big Gains Expected in Shanghai Base Metal Market after PBOC Cut

SHANGHAI, Aug. 26 (SMM) – Shanghai base metal market is not expected to stage big gains on Aug. 26 after PBOC’s cut decision, Shanghai Metals Market foresees. 

“Market will digest the cut decision by PBOC on interest rate and reserve ratio today, but the positive impact will be small given market response after recent cuts,” SMM says. 

In other news, China’s stock market tumbled yesterday, with Shanghai benchmark index sliding below 3,000.  

Copper: 39,200-39,600

Aluminum: 11,900-11,950

Lead: 13,200-13,400

Zinc: 14,400-14,600

Tin: 100,500-102,500

Nickel: 74,200-76,500

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

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