SHANGHAI, Mar. 24 (SMM) – LME copper should drop back to USD 4,950-4,995/mt during Asian trading hours Thursday.
US Fed announced that it may quicken rate hike pace as US unemployment rate fell below natural rate of unemployment. US dollar went up while crude oil prices plunged.
SHFE 1605 copper will range RMB 37,450-37,850/mt on Mar. 24 and spot discounts of RMB 100-160/mt are expected against SHFE 1604 copper.
Key Macroeconomic Indicators for Base Metal Prices (2016-3-24)