SHANGHAI, Nov. 9 (SMM) – LME copper closed last Friday at USD 4,978.5/mt. US non-farm payrolls increased 271,000 in October, above the expected 182,000. As such, US dollar advanced to 99.35, depressing LME copper.
SHFE 1601 copper started at RMB 37,940/mt last Friday night and closed at RMB 37,830/mt, down by RMB 110/mt.
LME copper will narrowly range between USD 4,975-5,000/mt during Asian trading hours and SHFE 1601 copper will hover between RMB 37,750-38,000/mt on November 9.