Base Metals to Experience Bigger Divergence, SMM Says

SHANGHAI, Jun. 1 (SMM) – Divergence will intensify among SHFE base metals prices today, SMM foresees.

Manufacturing PMIs from China, euro zone and the US are all expected to be negative.

Technical resistance at moving averages will act as a brake for most base metals, SMM added. 

Key Macroeconomic Indicators for Base Metal Prices (2016-6-1)

Copper: 35,400-35,750 yuan per tonne

Aluminum: 12,000-12,300 yuan per tonne

Lead: 12,700-12,850 yuan per tonne

Zinc: 15,050-15,200 yuan per tonne

Tin: 107,500-109,500 yuan per tonne

Nickel: 67,200-68,500 yuan per tonne

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

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.