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

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