SHANGHAI, Jan. 6 (SMM) – Base metal prices on the SHFE are expected to show bigger divergences on Jan. 6, Shanghai Metals Market foresees.
“The US API reports a larger-than-expected drop in oil inventories, but its impact on base metal prices will be small as a whole, and price divergences among metals are expected to intensify,” SMM says.
Copper: 36,000-36,500 yuan per tonne
Aluminum: 10,565-10,785 yuan per tonne
Lead: 13,080-13,230 yuan per tonne
Zinc: 13,050-13,250 yuan per tonne
Tin: 92,000-93,000 yuan per tonne
Nickel: 68,000-69,500 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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