SHANGHAI, Aug. 4 (SMM) – Base metal prices on the SHFE are expected to continue diverging on Thursday, Shanghai Metals Market foresees.
“Market focus is on UK’s August rate meeting on Thursday, and meanwhile, the dollar’s response to June durable goods orders and job data should be also watched,” SMM says.
Copper: 37,500-38,000 yuan per tonne
Aluminum: 12,000-12,200 yuan per tonne
Lead: 13,800-14,000 yuan per tonne
Zinc: 17,200-17,500 yuan per tonne
Tin: 118,500-120,000 yuan per tonne
Nickel: 83,000-85,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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