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LME Copper to Sag Next Week
Jan 8, 2016 19:20Source:SMM
LME copper should drop to $4,470-4,630 yuan per tonne next week, and is likely to fall below $4,430 yuan per tonne, SMM foresees.
SHANGHAI, Jan. 8 (SMM) - LME copper should drop to $4,470-4,630 yuan per tonne next week, and is likely to fall below $4,430 yuan per tonne, SMM foresees.
The US dollar will remain at 98-99.3, and crude oil prices are still bearish, both boding ill for copper. Downward pressure on Chinese economy and China’s stock market rout will also compound pressure on copper price.
March copper on the SHFE is expected to trade at 34,400-36,200 yuan per tonne, SMM added.
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