Societe Generale Lowers Base Metals Forecast for 2017 and 2018

SHANGHAI, Jun. 28 (SMM) - Societe Generale raised its forecast for aluminum price this year but downgraded its forecast for copper and other base metals, wenhua.com reported.

It lowered zinc price forecast to $2,650 per tonne this year, compared to $2,900 per tonne expected previously. Average zinc price is expected to be $2,800 per tonne in 2018, down from $3,300 per tonne expected previously.

Tin prices will average $20,000 per tonne in 2017, compared to $21,000 per tonne expected previously. Its forecast for the average tin price is lowered from $22,000 per tonne to $21,000 per tonne in 2018.

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The bank expects copper prices to average $5,700 per tonne in 2017, compared to $6,000 per tonne expected previously. Its forecast for the average copper price is lowered from $6,325 per tonne to $6,000 per tonne in 2018.

Aluminum prices will average $1,900 per tonne in 2017, higher than the $1,800 per tonne expected previously. Its forecast for the average copper price is raised from $1,825 per tonne to $1,965 per tonne in 2018.

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