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Home / Metal News / High Inventories Plague SHFE Copper Market (2016-2-22)

High Inventories Plague SHFE Copper Market (2016-2-22)

Feb 22, 2016 09:50

Source:SMM

SHFE 1604 copper is expected to move between RMB 35,800-36,100/mt on Monday.

SHANGHAI, Feb. 22 (SMM) – SHFE 1604 copper is expected to move between RMB 35,800-36,100/mt on Monday.

Pro-growth measures continue in Chinese market but mounting inventories trigger worries in market.

See forecast for other base metals, please click:Shanghai Base Metal Prices to Advance, SMM Says

LME copper will range USD 4,580-4,630/mt during Asian trading hours today. In China’s spot market, spot supply is sufficient and downstream buyers are expected to enter market. Spot discounts of RMB 150-220/mt are expected against SHFE 1603 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-22)

SHFE copper prices

LME 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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Key Copper Companies Issued Good Earnings Reports for Third Quarter on Higher Copper Prices

LME Copper to Move Lower (2016-9-14)

LME copper should range between USD 4,635-4,675/mt on Wednesday with resistance at the 20-day moving average and SHFE 1611 copper will fluctuate at RMB 36,450-36,700/mt.

Sep 14, 2016 09:48

SMM Comments

North American Copper Scrap Prices Held Steady on Index on Sep. 6th

The North American copper scrap prices remained flat on September 6th, Tuesday.

Sep 7, 2016 13:57

SMM Comments

LME Copper to Underperform SHFE Copper Next Week, SMM Expects

LME copper will swing widely next week, while SHFE copper is poised for a rebound, SMM expects.

Aug 26, 2016 20:10

SMM Insight

SHFE Copper Ends with Losses (2016-8-23)

SHFE 1610 copper started at RMB 37,100/mt and then advanced to RMB 37,180/mt before closing at RMB 37,120/mt, down RMB 130/mt.

Aug 23, 2016 17:12

SMM Comments

What Factor behind Surge in LME Copper Inventories, and What Impact on Copper Prices? SMM Reports

LME copper inventories soared by 18,750 tonnes or 8.9 per cent to 229,375 tonnes on Aug. 22, the biggest increase since Jul. 6. The surge triggered market worries over copper consumption.

Aug 23, 2016 11:18

SMM Insight

LME Copper to Fluctuate in Tight Range (2016-8-16)

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Aug 16, 2016 09:44

SMM Comments

Copper Price to Remain Range-Bound Next Week, SMM Says

LME copper is expected to experience corrections next week, pointing toward $5,000 per tonne, and SHFE September copper will fluctuate between 37,750-39,000 yuan per tonne, SMM says.

Jul 22, 2016 18:12

SMM Insight

50% China Copper Smelters Expect Rises for Copper Prices This Week, SMM Survey

SMM survey shows that 50% Chinese copper smelters see LME copper to break through USD 4,950/mt this week and SHFE 1609 copper to grow above RMB 38,500/mt.

Jul 5, 2016 09:54

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High Inventories Plague SHFE Copper Market (2016-2-22)

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