Divergence to Intensify in Base Metals, SMM Says

SHANGHAI, Jul. 13 (SMM) – Base metal prices on the SHFE are expected to see big divergence on Wednesday, Shanghai Metals Market foresees. 

“Price divergence is expected to intensify in Shanghai market after fallback from highs in Tuesday’s night trading,” SMM says. 

Eyes should be China’s June trade data and US oil report results today.  

Key Macroeconomic Indicators for Base Metal Prices (2016-7-13)

Copper: 37,800-38,300 yuan per tonne

Aluminum: 12,450-12,650 yuan per tonne

Lead: 13,200-13,400 yuan per tonne

Zinc: 16,850-17,150 yuan per tonne

Tin: 118,000-120,000 yuan per tonne

Nickel: 80,500-83,000 per tonne 

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

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