Home / Metal News / Aluminium / [Cu Price] Is Improved PMI Giving Strong Upward Momentum to Copper? SMM Interviews
[Cu Price] Is Improved PMI Giving Strong Upward Momentum to Copper? SMM Interviews
Jun 23,2015 17:15CST
industry news
Source:SMM
Will there be a strong rebound in copper prices following the upbeat PMI release?

SHANGHAI, Jun. 23 (SMM) – HSBC’s China manufacturing PMI for June released early today hit a three-month high at 49.6, with the new order index standing above 50 for the first time in four months. Will there be a strong rebound in copper prices following the upbeat releases?

“The increased PMI, especially improving new orders index, indicates stabilizing of the economy, and will lend some support to copper prices,” analyst from Everbright Futures told SMM, “this plus the large spot premiums in China will help copper prices level out.”

Nevertheless, some analysts noted that any rise in the red metal will be slight.

“Copper prices will benefit from the positive data in the short term, particularly after continuous declines, but we see the rebound to be a marginal one” said analyst from Western Futures.

“Despite an uptick, the PMI remains below 50, which we believe was not a strong evidence for any real turnaround in the economy,” the analyst explained.

“What’s worrisome is that demand for nonferrous metals remains unimproved,” analyst of Guosen Futures added, “slipping housing starts in China and excess inventories in other copper consuming sectors, such as home appliance, will block the increase in prices.”


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 forecast
SMM interview
HSBC China manufacturing PMI

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news