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Market sentiment has improved, but an US dollar rising above 80 should give pressures to copper prices. That, combined with possible profit-taking, indicates limited upside room in LME copper during Monday's Asian trading hours, with prices between USD 8,050 -8,120/mt. Chinese A-shares will extend rebounds. SHFE copper prices will start slightly higher before fluctuating at highs, and SHFE 1304 copper contract will hover in a range of RMB 58,200-58,700/mt. Shanghai spot copper discounts are estimated between RMB 120-220/mt versus SHFE 1302 copper contract.
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