Base Metal Prices to Fluctuate at Lows, SMM Says

SHANGHAI, Nov. 20 (SMM) – Base metal prices are expected to fluctuate at lows on Nov. 20, Shanghai Metals Market foresees. 

“The fallback of the dollar from highs give some relief to base metal prices, but bearish sentiment remains strong in the market, and position-closing by shorts will lead to a rally in some base metal markets,” SMM says. 

Copper: 34,600-35,050 yuan per tonne

Aluminum: 9,700-9,800 yuan per tonne

Lead: 11,900-12,090 yuan per tonne

Zinc: 12,000-12,200 yuan per tonne

Tin: 83,500-86,000 yuan per tonne

Nickel: 68,500-70,200 yuan per tonne

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

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