Oil Price Up, and Mood Stays Cautious, SMM Says

SHANGHAI, Jun. 22 (SMM) – Base metal market will stay cautious before the result of US’s EU referendum on Wednesday, Shanghai Metals Market foresees. 

“Oil price is up, and except some stronger ones, market mood will stay cautious,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-6-22)

Copper: 35,600-36,000 yuan per tonne

Aluminum: 12,200-12,400 yuan per tonne

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

Zinc: 15,550-15,800 yuan per tonne

Tin: 110,000-112,000 yuan per tonne

Nickel: 71,500-73,000 per tonne

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

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