SHANGHAI, May 17 (SMM) – Investors should stay cautious after overnight rises, Shanghai Metals Market foresees.
“Base metals overnight rose across the board with rising oil and falling dollar, and profit-taking by shorts in some markets also helped push up price gains, but it may become chance for another round of bets by shorts,” SMM says.
Copper: 35,500-35,900 yuan per tonne
Aluminum: 12,300-12,500 yuan per tonne
Lead: 12,850-13,000 yuan per tonne
Zinc: 15,000-15,250 yuan per tonne
Tin: 106,500-109,000 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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