SHANGHAI, Nov. 30 (SMM) – Base metal market is expected to drop again this week, Shanghai Metals Market foresees.
“The market will be exposed to a series of risky events, from both industrial and macro-fronts, so there is a big chance for prices to drop again this week,” SMM says.
The most eye-catching news will be the US’s November non-farm job data due for this Friday, and the US dollar has climbed above 100 as the news is written.
Copper: 34,700-35,100 yuan per tonne
Aluminum: 10,150-10,350 yuan per tonne
Lead: 12,400-12,600 yuan per tonne
Zinc: 12,600-12,800 yuan per tonne
Tin: 83,700-85,500 yuan per tonne
Nickel: 67,000-69,200 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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