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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)

iconFeb 22, 2016 09:50
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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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