Volatility Up in Base Metals, with Eyes on China PMI Data, SMM Says

SHANGHAI, Jul. 1 (SMM) – Base metal market is going to see big volatility on Friday, as investors are waiting for China’s PMI data for June, Shanghai Metals Market foresees.  

“China’s June PMI reading is due for release soon, and its results will affect base metal prices, and moreover, market worries after UK’s leaving note will also give uncertainties to the market,” SMM says.  

Copper: 37,100-37,600 yuan per tonne

Aluminum: 12,600-12,800 yuan per tonne

Lead: 13,100-13,300 yuan per tonne

Zinc: 16,300-16,500 yuan per tonne

Tin: 111,900-113,500 yuan per tonne 

Nickel: 73,500-75,000 per tonne

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

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