Base Metals Get Support from Oil Cut Agreement, SMM Says

SHANGHAI, Dec. 1 (SMM) – Base metal prices on the SHFE are expected to get a support from OPEC’s oil agreement on Thursday, Shanghai Metals Market foresees. 

“After the oil cut agreement, today will see PMI results from many countries, and Shanghai market will continue digesting OPEC’s cut agreement,” SMM says. 
Copper: 46,600-47,500 yuan per tonne

Aluminum: 13,250-13,500 yuan per tonne
Lead: 20,600-20,800 yuan per tonne
Zinc: 22,500-22,900 yuan per tonne
Tin: 142,500-145,500 yuan per tonne
Nickel: 90,300-93,000 yuan per tonne

Note: Prices all above are for most-actively traded contract on the SHFE.

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