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Home / Metal News / [Cu Price] LME Copper Heading towards $5,080 amid Strong Dollar

[Cu Price] LME Copper Heading towards $5,080 amid Strong Dollar

Jul 24, 2015 17:35

Copper prices are expected to drift lower next week with the US dollar index on the rise, SMM foresees.

SHANGHAI, Jul. 24 (SMM) – Copper prices are expected to drift lower next week with the US dollar index on the rise, SMM foresees.

“The strong dollar supported by interest rate hike hope will be a direct drag on copper price,” SMM analyst says, “now that technical support from $5,200 per tonne is fragile, we expect LME copper to test support from $5,080 per tonne.”

SHFE copper is expected to follow LME copper down to 37000-39300 yuan per tonne.

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

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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