SHANGHAI, Jul. 10 (SMM) – An easing of Greek debt crisis and improved sentiment in China’s stock market will allow copper prices to move slightly higher next week, SMM foresees.
“LME copper has risen above the 5-day moving average, but some technical indicators still showed negative signs, so the prices are likely to edge up to $5,500-5,700 per tonne,” SMM research team says.
SHFE copper prices may move between 39,800-41,600 yuan a tonne. “Any movement in China’s stock market should still be eyed, and the price volatility may increase before expiration of the 1507 copper contract,” SMM analyst says.
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
