SHANGHAI, Aug. 28 (SMM) – Base metal prices on the SHFE are expected to rally on Aug. 28 due to improved sentiment, Shanghai Metals Market foresees.
“A gain of China’s stock market has bolstered up market sentiment, and Shanghai base metal prices are expected to rally on Friday,” Shanghai Metals Market says.
In other news, eyes should be on the annual conference of global central banks from Thursday to Saturday, to seek any new clue of monetary policies in world’s major economies.
Copper: 39,200-39,800 yuan per tonne
Aluminum: 11,930-12,000 yuan per tonne
Lead: 13,300-13,500 yuan per tonne
Zinc: 14,500-14,750 yuan per tonne
Tin: 99,000-101,000 yuan per tonne
Nickel: 77,000-79,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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