Base Metal to Stay Downward Pressures, SMM Says

SHANGHAI, May 13 (SMM) – Base metal prices on the SHFE are expected to stay weak on Friday, Shanghai Metals Market foresees. 

“Base metal market overnight saw sharp losses, and downward pressures are expected to be continuing today, despite of some price corrections” SMM says.  

Key Macroeconomic Indicators for Base Metal Prices (2016-5-13) 

Copper: 35,200-35,600 yuan per tonne

Aluminum: 11,900-12,100 yuan per tonne

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

Zinc: 14,750-15,250 yuan per tonne

Tin: test support at 106,630 yuan per tonne

Nickel: 68,000-70,000 yuan per tonne

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

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