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LME Copper to Build Upward Momentum Next Week, SMM Says

iconOct 17, 2015 11:55
Source:SMM
LME copper will build upward momentum and move between $5,200-5,400 per tonne next week, Shanghai Metals Market foresees.

SHANGHAI, Oct. 17 (SMM) –LME copper will build upward momentum and move between $5,200-5,400 per tonne next week, Shanghai Metals Market foresees.  

Technically, the 10-day and 60-day moving averages will offer solid support.

SHFE 1512 copper will range 39,300-40,700 yuan per tonne as market sentiment is improving. Rising Chinese A share market has cheered market up. Recent feeble Chinese economic data are keeping hopes high for more stimulus measures.

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