SHFE Copper to Stay Range-Bound (2016-5-3)
LME copper should narrowly range USD 4,970-5,020/mt during Asian trading hours Tuesday.
SHANGHAI, May 3 (SMM) – LME copper should narrowly range USD 4,970-5,020/mt during Asian trading hours Tuesday.
Crude oil prices fell from highs on Monday. China’s April official PMI remains above 50. SHFE 1606 copper will fluctuate between RMB 37,600-38,200/mt on May 3. Spot discounts of RMB 100-150/mt are expected against SHFE 1605 copper.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-3)
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