Base Metals to Experience Corrections and Diverge, SMM Says

Published: May 31, 2016 09:15

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SHFE base metals prices are expected to remain range-bound and diverge today, SMM foresees.

SHANGHAI, May 31 (SMM) - SHFE base metals prices are expected to remain range-bound and diverge today, SMM foresees.

“Base metals on the SHFE meet strong pressure but also find solid support.” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-31)

Copper: 35,550-358,500 yuan per tonne

Aluminum: 12,200-12,350 yuan per tonne

Lead: 12,750-12,900 yuan per tonne

Zinc: 14,900-15,050 yuan per tonne

Tin: 106,500-108,300 yuan per tonne

Nickel: 66,800-68,200 yuan per tonne

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

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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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