SHANGHAI, June 28 (SMM) – Market positions adjustment on Friday evening before the opening of G-20 Summit dampened the US dollar, and US equities markets gained, helping LME copper prices rebound from negative news of lower GDP growth in 1Q from the US, reaching to nearly a 4-week high of USD 6,875/mt. Finally, LME copper prices closed at USD 6,860/mt.
SMM expects LME copper prices to fluctuate between USD 6,550-6,850/mt in the near future.
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