Base Metal to Lack of Rising Strength This Week, SMM Says

SHANGHAI, Nov. 9 (SMM) – Base metal prices are expected to lack the rising momentum this week, Shanghai Metals Market foresees. 

“A rebound is possible in base metal market after recent sharp losses, but a stronger dollar, and overall unfavorable macro-front news will give little support to prices,” SMM points. 

A slew of economic data will be released this week from China and Europe, including CPI, PPI and GDP results. 

Copper: 37,750-38,000 yuan per tonne

Aluminum: 10,600-10,700 yuan per tonne

Lead: 12,920-13,060 yuan per tonne

Zinc: 13,500-13,650 yuan per tonne

Tin: 91,200-92,200 yuan per tonne

Nickel: 74,000-75,200 yuan per tonne

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

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