Will Glencore Cut News Support Copper Prices? SMM Interviews-Shanghai Metals Market

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Will Glencore Cut News Support Copper Prices? SMM Interviews

Industry News 11:38:46AM Sep 08, 2015 Source:SMM

SHANGHAI, Sept. 8 (SMM) – Will Glencore’s production cut news give a boost to the dull copper market? 

“The cut news should serve as a short-term factor on copper prices, and demand downstream will be always the decision one,” an analyst from Western Futures told SMM in an interview.  

LME copper rose to test resistance at $5,200 per tonne following Glencore’s news, but later fell back, as noted in SMM’s copper morning review.

“At present, the whole base metal market remains bearish, and China’s weak demand and US’s interest rate decision are the two major risky factors,” the analyst added. 

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.


Will Glencore Cut News Support Copper Prices? SMM Interviews

Industry News 11:38:46AM Sep 08, 2015 Source:SMM

SHANGHAI, Sept. 8 (SMM) – Will Glencore’s production cut news give a boost to the dull copper market? 

“The cut news should serve as a short-term factor on copper prices, and demand downstream will be always the decision one,” an analyst from Western Futures told SMM in an interview.  

LME copper rose to test resistance at $5,200 per tonne following Glencore’s news, but later fell back, as noted in SMM’s copper morning review.

“At present, the whole base metal market remains bearish, and China’s weak demand and US’s interest rate decision are the two major risky factors,” the analyst added. 

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.