SHANGHAI, Nov. 6 (SMM) – Base metal prices on the SHFE are expected to continue falling on Nov. 6, Shanghai Metals Market foresees.
“A strong dollar remains a major factor behind the expected drop, and crude oil market will also affect Shanghai metal prices,” SMM says, citing a weaker correlation between China’s stock market and Shanghai metal prices.
Copper: 37,500-38,100 yuan per tonne
Aluminum: 10,550-10,650 yuan per tonne
Lead: 12,900-13,050 yuan per tonne
Zinc: 13,400-13,550 yuan per tonne
Tin: 91,500-92,500 yuan per tonne
Nickel: 74,300-75,800 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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