LME Copper to Stay Range-Bound (2016-5-11)-Shanghai Metals Market

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LME Copper to Stay Range-Bound (2016-5-11)

Price Review & Forecast 09:27:42AM May 11, 2016 Source:SMM

SHANGHAI, May 11 (SMM) – LME copper will narrowly range USD 4,660-4,710/mt during Asian trading hours Wednesday.

Growth in the API crude oil inventories beat forecast and this may weigh on oil prices. SHFE 1607 copper will fluctuate between RMB 35,600-36,100/mt on May 10. Spot copper will be offered at discounts of RMB 20/mt and premiums of RMB 20/mt against SHFE 1605 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-11)


LME Copper to Stay Range-Bound (2016-5-11)

Price Review & Forecast 09:27:42AM May 11, 2016 Source:SMM

SHANGHAI, May 11 (SMM) – LME copper will narrowly range USD 4,660-4,710/mt during Asian trading hours Wednesday.

Growth in the API crude oil inventories beat forecast and this may weigh on oil prices. SHFE 1607 copper will fluctuate between RMB 35,600-36,100/mt on May 10. Spot copper will be offered at discounts of RMB 20/mt and premiums of RMB 20/mt against SHFE 1605 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-11)