What Direction Will Copper Prices Go after Recent Declines? SMM Interviews-Shanghai Metals Market

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What Direction Will Copper Prices Go after Recent Declines? SMM Interviews

Industry News 10:59:06AM Sep 24, 2015 Source:SMM

SHANGHAI, Sept. 24 (SMM) – The decline in copper prices in recent one week erased price gains from Aug. 10 to Sept. 10. Will copper prices continue falling or turn around? 

“The medium and long-term outlook for copper will remain weak amid growing worries on world’s growth, especially in China, and concerns over the US rate hike, and any short-term support, from both technical indicators and expectations on demand pick-up, will be small,” an analyst from Ruida Futures told SMM in an interview.  

A close eye should be paid to price movement on the LME in early October when the SHFE will be closed for the Chinese National Day holiday from Oct. 1-7, the analyst added. 

“There is a good chance of copper price to fluctuate at lows, with price at 37,000-40,000 yuan per tonne,” qhrb.com.cn reported, citing costs will prevent copper price from tumbling sharply. 

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. 


What Direction Will Copper Prices Go after Recent Declines? SMM Interviews

Industry News 10:59:06AM Sep 24, 2015 Source:SMM

SHANGHAI, Sept. 24 (SMM) – The decline in copper prices in recent one week erased price gains from Aug. 10 to Sept. 10. Will copper prices continue falling or turn around? 

“The medium and long-term outlook for copper will remain weak amid growing worries on world’s growth, especially in China, and concerns over the US rate hike, and any short-term support, from both technical indicators and expectations on demand pick-up, will be small,” an analyst from Ruida Futures told SMM in an interview.  

A close eye should be paid to price movement on the LME in early October when the SHFE will be closed for the Chinese National Day holiday from Oct. 1-7, the analyst added. 

“There is a good chance of copper price to fluctuate at lows, with price at 37,000-40,000 yuan per tonne,” qhrb.com.cn reported, citing costs will prevent copper price from tumbling sharply. 

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.