Base Metals to Experience Bigger Divergence, SMM Says

Published: Jun 01, 2016 09:26 (GMT+8)

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Divergence will intensify among SHFE base metals prices today, SMM foresees.

SHANGHAI, Jun. 1 (SMM) – Divergence will intensify among SHFE base metals prices today, SMM foresees.

Manufacturing PMIs from China, euro zone and the US are all expected to be negative.

Technical resistance at moving averages will act as a brake for most base metals, SMM added.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-1)

Copper: 35,400-35,750 yuan per tonne

Aluminum: 12,000-12,300 yuan per tonne

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

Zinc: 15,050-15,200 yuan per tonne

Tin: 107,500-109,500 yuan per tonne

Nickel: 67,200-68,500 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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