SHANGHAI, Jul. 14 (SMM) – Base metal prices on the SHFE are expected to continue its volatility on Thursday, Shanghai Metals Market foresees.
“Technically, sell-off pressures are emerging after big rises, reflected by mixed trading in overnight trading, and on the other hand, global easing policy expectations will support the market, combining to add to market volatility,” SMM says.
Copper: 38,250-38,750 yuan per tonne
Aluminum: 12,550-12,750 yuan per tonne
Lead: 13,150-13,350 yuan per tonne
Zinc: 16,800-17,000 yuan per tonne
Tin: 118,000-120,000 yuan per tonne
Nickel: 79,500-81,500 per tonne
Attention should be paid to Bank of England’s upcoming rate meeting decision.
Note: All prices above are forecasts for most actively-traded contracts on each market.
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