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.
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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