SHANGHAI, Nov. 20 (SMM) – The outlook for base metal prices will remain gloomy this week, SMM foresees.
“Overall sentiment remains bearish in base metal market, and volatility at current lows are expected to grow,” SMM says.
This week, major economic data due for release mainly include the US’s durable consuming goods and confidence index and China’s profit results at industrial enterprises.
In other aspects, news about China’s housing provident fund reform should be also watched.
Copper: 34,200-34,800 yuan per tonne
Aluminum: 9,700-9,800 yuan per tonne
Lead: 12,100-12,270 yuan per tonne
Zinc: 12,350-12,550 yuan per tonne
Tin: 84,000-85,000 yuan per tonne
Nickel: 66,400-67,200 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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