Price Corrections Expected in Base Metal Market, SMM Says

SHANGHAI, Jul. 6 (SMM) – Base metal prices on the SHFE are expected to see price corrections on Jul. 6, Shanghai Metals Market foresees.  

“Base metal overnight mostly closed lower, a clear sign of price corrections, and struggles between longs and shorts will be continuing today,” SMM says.  

Key Macroeconomic Indicators for Base Metal Prices (2016-7-6)

Copper: 37,100-37,500 yuan per tonne

Aluminum: 12,300-12,500 yuan per tonne

Lead: 12,900-13,100 yuan per tonne

Zinc: 16,250-16,550 yuan per tonne

Tin: 115,000-118,000 yuan per tonne

Nickel: 75,800-78,600 per tonne

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

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