SHANGHAI, Jun. 23 (SMM) – Cautious mood is expected to prevail in base metal market ahead of the upcoming UK’s EU referendum on Thursday, Shanghai Metals Market foresees.
“The UK’s EU referendum is going to be held soon, so investors will stay cautious before the result, and Shanghai market will likely follow LME to see declines in some products,” SMM says.
Copper: 35,950-36,350 yuan per tonne
Aluminum: 12,250-12,400 yuan per tonne
Lead: 12,800-12,950 yuan per tonne
Zinc: 15,700-15,850 yuan per tonne
Tin: 110,000-111,800 yuan per tonne
Nickel: 71,800-73,200 per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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