Goldman Sachs Hikes Price Forecast for Base Metals-Shanghai Metals Market

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Goldman Sachs Hikes Price Forecast for Base Metals

Industry News 05:36:13PM Nov 16, 2016 Source:SMM

SHANGHAI, Nov. 16 (SMM) - Goldman Sachs raised its 3-month, 6-month and 12-month forecast for base metals prices on Tuesday, wenhua.com reported.

Its price forecast for copper was revised to $5,000, $4,800 and $4,800 per tonne, compared to $4,300, $4,300 and $4,200 per tonne expected previously.

Zinc price forecast was raised to $2,600, $2,700 and $2,800 per tonne, up from $2,500, $2,500 and $2,200 per tonne.

Nickel price forecast was hiked to $12,500, $12,500 and $11,000 per tonne from $12,000, $12,000 and $10,000 per tonne.

Forecast for aluminum prices was raised to $1,680, $1,650 and $1,600 per tonne from $1,650, $1,600 and $1,550 per tonne.

The adjustment of price forecast is based on strong demand, Goldman Sachs said. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Goldman Sachs Hikes Price Forecast for Base Metals

Industry News 05:36:13PM Nov 16, 2016 Source:SMM

SHANGHAI, Nov. 16 (SMM) - Goldman Sachs raised its 3-month, 6-month and 12-month forecast for base metals prices on Tuesday, wenhua.com reported.

Its price forecast for copper was revised to $5,000, $4,800 and $4,800 per tonne, compared to $4,300, $4,300 and $4,200 per tonne expected previously.

Zinc price forecast was raised to $2,600, $2,700 and $2,800 per tonne, up from $2,500, $2,500 and $2,200 per tonne.

Nickel price forecast was hiked to $12,500, $12,500 and $11,000 per tonne from $12,000, $12,000 and $10,000 per tonne.

Forecast for aluminum prices was raised to $1,680, $1,650 and $1,600 per tonne from $1,650, $1,600 and $1,550 per tonne.

The adjustment of price forecast is based on strong demand, Goldman Sachs said. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.