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

Published: Feb 22, 2016 09:50

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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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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