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Shanghai Base Metal Prices to Keep Rising on Feb. 4 on Multiple Positive Factors

Release time:2015-02-04

Feb 04, 2015 01:58 GMT   Source:SMM

 

SHANGHAI, Feb. 4 (SMM) – Shanghai base metal prices are expected to regain its rising momentum on Feb. 4, Shanghai Metals Market foresees.  

The sharp gains in oil prices, falling dollar, and easing of worries over Greek issues are major driving factors, SMM expects.  

Market sentiment improved yesterday in response to interpretation of new Greek government’s softening stance on its debt issues. Base metal prices, led by copper , advanced across the board.   

SMM Base Metals Price Forecast on Feb. 4 (Unit: yuan per tonne) 

Copper: 40,800 -42,000  
Aluminum: 13,100-13,200  
Lead: 12,500-12,650  
Zinc: 16,380-16,480 
Tin: 125,000-128,500  
Nickel: 110,000-110,900  
 
Price forecasts above for copper, aluminum , lead and zinc are for the most actively traded contract in SHFE market, while those for tin and nickel are in China’s spot market. 
Key words:
SMM LME lead prices
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