No gains expected from Chinese metals over the summer


The BIR World Mirror on non-ferrous metals has predicted that Chinese prices will remain static over the summer.

Writing in the China section of the monthly report, David Chiao from Uni-All Group in the USA noted that the economic situation in China remains challenging.


He added: “Summer, traditionally the slow season, is approaching, and copper will sit at RMB 54,000 (£5,434) per tonne whereas aluminium will remain at the RMB 15,500 (£1,560) level.

“Lead has broken the support at RMB 15,000 (£1,509) per tonne and dropped to RMB 14,800 (£1,490), while zinc is under pressure from an excessive inventory of 207,000 tonnes during the first four months of this year and has dipped to RMB 14,600 (£1,470).

“The RMB itself has dropped to 6.40 to the US dollar from a high of 6.20 in January this year.”


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