SHANGHAI, Jun. 30 (SMM) - BofA Merrill Lynch revised its forecast for base metals in its Friday’s report, according to wenhua.com.

It lowered forecast for copper prices by 4.2% to $5,434 per tonne for 2017, and that for 2018 was lowered by 8.8% to $5,510 per tonne.

Its forecast for nickel was dropped sharply by 22% to $9,494 per tonne for 2017, and that for 2018 was lowered by 22.2% to $10,500 per tonne.

Societe Generale Lowers Base Metals Forecast for 2017 and 2018

It hikes forecast for lead from $2,109 to $2,143 per tonne for 2017.

Its forecast for aluminum is $1,902 per tonne for 2017, down from $1,931 per tonne expected previously. Forecast for 2018’s price is $1,950 per tonne.

Why Zinc Prices Shoot up to 3-Month High? Where Are They Going? SMM Reports

The bank lowered forecast for zinc prices from $2,825 per tonne to $2,714 per tonne for 2017. 

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