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.
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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