Base Metals to Fluctuate at Highs, SMM Says

SHANGHAI, May 27 (SMM) - SHFE base metals prices are expected to consolidate at highs today, SMM says.

“Base metals on the SHFE strengthened last evening, but pressure from moving averages remains strong. China’s economic data due for release today will boost the market. Nevertheless, any upward room for base metals will be limited today” SMM added.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-27)

Copper: 35,750-36,060 yuan per tonne

Aluminum: 11,950-12,200 yuan per tonne

Lead: 12,650-12,800 yuan per tonne

Zinc: 14,850-15,050 yuan per tonne

Tin: 107,000-108,000 yuan per tonne

Nickel: 66,000-67,500 yuan per tonne

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

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