Macquarie Hikes Forecast for Base Metals in 2017 and 2018

SHANGHAI, Dec. 20 (SMM) - Macquarie raised its forecast for most base metals in the next two years, wenhua.com reported.

It expects copper price to be $5,350 per tonne in 2017 and $5,100 per tonne in 2018, it said Monday.

Zinc price forecast was raised by 14.9% to $2,788 per tonne for 2017 and $2,775 per tonne for 2018, up 2.8% from previous forecast.

Nickel price forecast was $12,250 per tonne for 2017, up 5.4%, and $12,500 per tonne for 2018, down 3.8%.

Aluminum price is expected to average $1,600 per tonne in 2017, up 11.3% from previous forecast, and $1,494 per tonne in 2018, up 4.8%.

Lead price will average $2,350 per tonne in 2017,up 17.4% and $2,351 per tonne in 2018,up 7.4%, it said. 

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