LME Copper to Face Downward Pressure (2016-3-16)
LME copper will face downside pressure and will range USD 4,900-4,955/mt during Asian trading hours Wednesday.
SHANGHAI, Mar. 16 (SMM) – LME copper will face downside pressure and will range USD 4,900-4,955/mt during Asian trading hours Wednesday.
Base metals dropped across the board overnight due to drop in European and US stock market. SHFE 1605 copper will move between RMB 37,000-37,400/mt on Mar. 16 and spot discounts of RMB 120-180/mt are expected against SHFE 1604 copper.
Key Macroeconomic Indicators for Base Metal Prices (2016-3-16)
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.
