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.
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.
![Geopolitical Dynamics Fluctuated Repeatedly, Copper Prices Stopped Falling and Recovered; Domestic Demand Supported Improving Destocking in China [SMM Macro Weekly Review]](https://imgqn.smm.cn/usercenter/GfvuY20251217171708.jpg)
