Range-Bound Trading to Continue in Base Metals, SMM Says

SHANGHAI, Oct. 20 (SMM) – Base metal prices on the SHFE are expected to keep range-bound trading on Thursday, Shanghai Metals Market foresees. 

“Base metals overnight rose after falling initially, but kept trading at the current price range, and Shanghai prices are expected to continue the range-bound trading today,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-10-20)

Copper: 37,100-37,350 yuan per tonne
Aluminum: 12,600-12,720 yuan per tonne
Lead: 15,400-15,600 yuan per tonne
Zinc: 18,100-18,300 yuan per tonne
Tin: 128,500-130,000 yuan per tonne
Nickel: 80,000-82,000 yuan per tonne    

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

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