SHANGHAI, Nov. 26 (SMM) – Base metal prices largely closed with gains despite a stronger dollar, and the gain is expected to continue on Nov. 25, Shanghai Metals Market foresees.
“SHFE nickel rose to the upward limit yesterday, and the surge in dollar, which hit to 100, didn’t curb the gain in base metal prices,” SMM says.
Crude oil prices rose as Russian-Turkey tension sparked safe-haven appeal, but still faced pressures from a strong dollar and high inventories.
In other news, the US market will be closed for Thanks-giving Day.
Copper: 34,300-34,700 yuan per tonne
Aluminum: 9,950-10,150 yuan per tonne
Lead: 12,400-12,600 yuan per tonne
Zinc: 12,700-12,900 yuan per tonne
Tin: 83,000-85,000 yuan per tonne
Nickel: 67,800-70,500 yuan per tonne