Base Metals to See Diverging, SMM Says

SHANGHAI, Dec. 7 (SMM) – Base metal prices on the SHFE are expected to diverge on Wednesday, Shanghai Metals Market predicts.

“Base metal prices overnight stopped falling and stabilized, and some products may regain rising strength, and this will also boost those products with relatively weak fundamentals, with Shanghai prices expected to diverge on Wednesday,” SMM says. 

Copper: 47,300-47,950 yuan per tonne

Aluminum: 12,950-13,150 yuan per tonne

Lead: 20,800-21,500 yuan per tonne

Zinc: 22,950-23,500 yuan per tonne

Tin: 143,000-146,000 yuan per tonne

Nickel: 94,800-97,200 yuan per tonne

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

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