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Home / Metal News / Ample Supply Allows Shanghai Spot Copper Discounts to Widen (2016-1-18)

Ample Supply Allows Shanghai Spot Copper Discounts to Widen (2016-1-18)

Jan 18, 2016 09:50

Source:SMM

Spot copper supply is sufficient in Chinese market and this will allow spot discounts to widen to RMB 160-220/mt on Jan. 18.

SHANGHAI Jan. 18 (SMM) – Spot copper supply is sufficient in Chinese market and this will allow spot discounts to widen to RMB 160-220/mt on Jan. 18.

See forecast for other base metals, please click:Price Pattern of Stronger Shanghai Prices to Change, SMM Says

Attention is turning to economic figures from China and movement of Chinese yuan. LME copper should move between USD 4,315-4,360/mt during Asian trading hours Monday and SHFE 1603 copper will range RMB 34,200-34,700/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-18)

spot copper prices

SHFE copper prices

copper prices

Cu price

For queries, please contact William Gu at williamgu@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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SMM Comments

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Improvements in commodity markets made copper prices hold above the lows recorded in January but investors are not yet excited enough to trigger a bull run in copper prices.

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68% China Copper Smelters Expect Declines for Copper This Week, SMM Survey

SMM survey reveals that 68% Chinese copper producers see LME copper to fall below USD 4,700/mt this week and SHFE 1607 copper drop below RMB 35,600/mt.

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SMM Comments

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On Thursday, oil and dollar factors will leave LME copper in range-bound trading, SMM predicts.

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Mar 25, 2016 09:28

SMM Comments

LME Copper to Bounce Back (2016-3-17)

LME copper will rebound to USD 4,930-5,000/mt during Asian trading hours Thursday.

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SMM Comments

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