SHANGHAI, Nov. 27 (SMM) - LME copper prices are expected to rise and test $4,795 per tonne next week, SMM predicts.
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“A string of positive news recently will continue lending some support to copper prices, including output cut at major smelters and rumors that the State Reserve Bureau (SRB) will build base metal stocks. Technical indicators also point to further upward trend for copper,” said an SMM copper analyst.
February delivery copper on the SHFE will trade at 34,500-36,300 yuan per tonne, with price volatility up, the analyst added.
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