Base Metals to Stay Weak, SMM Says

SHANGHAI, May 6 (SMM) – Base metal prices on the SHFE are expected to stay weak on Friday, Shanghai Metals Market foresees. 

“Investors now take cautious stance ahead of US non-farm payrolls, and base metal prices will remain weak as a result,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-6)

Copper: 36,400-36,800 yuan per tonne

Aluminum: 12,150-12,350 yuan per tonne

Lead: 12,850-13,000 yuan per tonne

Zinc: 14,700-15,000 yuan per tonne

Tin: 110,000-112,000 yuan per tonne

Nickel: 70,000-72,500 yuan per tonne

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

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