Price Declines to Continue in Base Metals, SMM Says

Published: May 20, 2016 09:45

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Base metal prices on the SHFE market are expected to be surrounded by bearish sentiment on Friday, Shanghai Metals Market foresees.

SHANGHAI, May 20 (SMM) – Base metal prices on the SHFE market are expected to be surrounded by bearish sentiment on Friday, Shanghai Metals Market foresees.

“Price declines are expected to be continuing amid the weak sentiment, despite of big losses in some markets, including copper, and eyes should be paid to data from US and Germany today,” SMM says.

Price Declines to Continue in Base Metals, SMM Says

Copper: 34,950-35,400 yuan per tonne

Aluminum: 12,300-12,450 yuan per tonne

Lead: 12,700-12,850 yuan per tonne

Zinc: 14,800-15,000 yuan per tonne

Tin: 105,000-107,300 yuan per tonne

Nickel: 67,500-68,800 yuan per tonne

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

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base metal price forecast base metal price base metals

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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