Shanghai Base Metal Price to Rally on Easing Concerns

SHANGHAI, Jul. 10 (SMM) – Base metal prices on the SHFE are expected to rally across the board on Jul. 10, Shanghai Metals Market foresees. 

The easing of concerns on China’s stock market and Greek issues will help improve market sentiment, SMM explains. 

The Shanghai Composite Index closed up 5.76% on Jul. 9 following previous tumbles, and Greece also proposed a new plan to its creditors, both helping relieve market worries.  

Copper: 40,400-41,600 yuan per tonne

Aluminum: 12,400-12,500 yuan per tonne

Lead: 12,900-13,100 yuan per tonne

Zinc: 15,230-15,350 yuan per tonne

Tin: 107,000-111,000 yuan per tonne

Nickel: 84,000-85,170 yuan per tonne

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

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