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Home / Metal News / LME Copper to Test Higher (2016-4-21)

LME Copper to Test Higher (2016-4-21)

Apr 21, 2016 11:02

Source:SMM

Oil price lurched higher with positive US oil data, showing a 6-week decline in output. This, combined with US’s better-than-expected existing home sales and rising equities, pushed up LME copper.

SHANGHAI, Apr. 21 (SMM) – Oil price lurched higher with positive US oil data, showing a 6-week decline in output. This, combined with US’s better-than-expected existing home sales and rising equities, pushed up LME copper.

On Thursday, LME nickel is expected to trade at USD 4,935-4,985/mt, and SHFE most actively-traded contract will move between RMB 37,300-37,700/mt, with spot discounts at RMB 170-120/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-4-21)

copper price

LME copper price

SHFE copper price

copper price forecast

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.

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As of closing time at Asian daily trading hours on July 28, SHFE 1709 copper advanced by 3.61 per cent or 1,740 yuan per tonne, with prices mainly trading between 47,720-50,730 yuan per tonne.

Jul 28, 2017 19:33

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Mar 15, 2017 10:30

Industry Reminder

China Minmetals to Raise Copper Output above 1 million tonnes in Five Years

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Mar 7, 2017 15:03

Industry Reminder

China Minmetals to Raise Copper Output above 1 million tonnes in Five Years

Why China Refined Copper Imports Surge 46% MoM in November after Hitting 3-1/2-year Low in October? SMM Reports

China imported 276,730 tonnes of refined copper in November, down 22.9 percent year-on-year, but up 46 percent month-on-month.

Dec 23, 2016 10:30

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Why China Refined Copper Imports Surge 46% MoM in November after Hitting 3-1/2-year Low in October? SMM Reports

SHFE Copper Ends with Losses (2016-9-1)

SHFE 1610 copper started higher at RMB 36,360/mt and ended at RMB 36,530/mt, up RMB 250/mt with positions down 16,964.

Sep 1, 2016 17:37

SMM Comments

LME Copper to Move in a Tight Range (2016-8-26)

LME copper should fluctuate between USD 4,625-4,665/mt on Friday and SHFE 1610 copper will range between RMB 36,100-36,600/mt. Spot prices are expected to trade at premium of RMB 0-50/mt.

Aug 26, 2016 10:13

SMM Comments

31% China Copper Smelters Expect Falls for Copper Prices This Week, SMM Survey

31% Chinese copper smelters see LME copper to fall below USD 4,550/mt this week and SHFE 1607 lead to drop below RMB 35,000/mt.

May 24, 2016 09:42

SMM Comments

SHFE Copper Trades Lower (May 18, 2016)

SHFE 1607 copper started at RMB 35,700/mt overnight and once dived to RMB 35,480/mt. The red metal rebounded to RMB 35,940/mt before closing the session at RMB 35,780/mt.

May 18, 2016 16:45

SMM Comments

LME and SHFE Copper to Look for Price Floor Next Week, SMM Expects

Copper prices will head for further declines next week, SMM foresees.

May 14, 2016 14:01

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LME Copper to Test Higher (2016-4-21)

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SMM LME Metals Seminar 2025

Li-ION BATTERY China

APAC (10th) Ni-Cr-Mn Stainless Steel & New Energy Conference 2025