Copper Prices to Draw Little Support from China Output Cut News Next Week

SHANGHAI, Dec. 5 (SMM) – Copper prices will find little support from 350,000 tonne output cut announcement by Chinese smelters, SMM understands. 

See SMM Forecast, Please Click:Most China Copper Smelters See Copper Prices to Stabilize, SMM survey

China’s November PPI, due for release next week, is unlikely to see a turnaround. SHFE copper will move between 34,150-35,350 yuan per tonne. 

The US dollar index is expected to rise to 98-100.51 as a series of incoming US economic data will be positive. Crude oil prices will remain weak on supply glut. LME copper should move wildly between $ 4,500-4,650 per tonne.  

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