SHANGHAI, Aug. 20 (SMM) – Zinc and lead prices on the SHFE market are expected to outshine other base metals on Aug.20, Shanghai Metals Market foresees.
“A falling dollar after the Fed’s dovish tone in its July meeting minutes has sent up most LME base metals overnight, and Shanghai market will largely follow suit, with stronger zinc and lead expected, ” SMM says.
Copper: 38,300-38,800 yuan per tonne
Aluminum: 11,900-12,000 yuan per tonne
Lead: 13,250-13,400 yuan per tonne
Zinc: 14,680-14,800 yuan per tonne
Tin: support at 106,300 yuan per tonne
Nickel: 81,000-81,900 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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