Base Metals to See Downward Technical Pressures, SMM Says

SHANGHAI, Mar. 24 (SMM) – Base metal prices on the SHFE are expected to trade downward on Thursday, Shanghai Metals Market foresees. 

“All major base metals come under downward pressures technically, except tin, and market sentiment is being depressed by days of disappointing movements,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-24)

Copper: 37,450-37,850 yuan per tonne

Aluminum: 11,430-11,510 yuan per tonne

Lead: 13,470-13,620 yuan per tonne

Zinc: 14,200-14,400 yuan per tonne

Tin: 109,000-111,000 yuan per tonne

Nickel: 67,000-69,000 yuan per tonne

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

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