[Copper Price] Is Copper Price Overshooting on Downside? SMM Interviews-Shanghai Metals Market

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[Copper Price] Is Copper Price Overshooting on Downside? SMM Interviews

Industry News 05:12:40PM Jun 17, 2015 Source:SMM

SHANGHAI, Jun. 17 (SMM) – Copper price has posted sharp falls, and the SHFE copper lost 4.64% following a five-day losing streak. Is the red metal overshooting on the downside? Will its outlook turn less pessimistic for the long run?

“Some negative factors may have been priced in and it is possible that price fall in H2 can be not as sharp as we had expected, but outlook is still bearish overall,” said analyst from Everbright Futures told SMM.

Chief analyst of COFCO Futures agreed, saying that although downward room may be limited on the horizon following the plunge, weak market fundamentals mean prospect for the market in H2 should remain pessimistic.

That said, a few analysts do consider the recent price decline somewhat overdone and note that there are still uncertainties surrounding long-term price outlook.
 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

[Copper Price] Is Copper Price Overshooting on Downside? SMM Interviews

Industry News 05:12:40PM Jun 17, 2015 Source:SMM

SHANGHAI, Jun. 17 (SMM) – Copper price has posted sharp falls, and the SHFE copper lost 4.64% following a five-day losing streak. Is the red metal overshooting on the downside? Will its outlook turn less pessimistic for the long run?

“Some negative factors may have been priced in and it is possible that price fall in H2 can be not as sharp as we had expected, but outlook is still bearish overall,” said analyst from Everbright Futures told SMM.

Chief analyst of COFCO Futures agreed, saying that although downward room may be limited on the horizon following the plunge, weak market fundamentals mean prospect for the market in H2 should remain pessimistic.

That said, a few analysts do consider the recent price decline somewhat overdone and note that there are still uncertainties surrounding long-term price outlook.
 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.