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Home / Metal News / LME Copper to Get Support from Oil Prices (2016-5-12)

LME Copper to Get Support from Oil Prices (2016-5-12)

May 12, 2016 09:36

Source:SMM

LME copper will range USD 4,680-4,720/mt during Asian trading hours Thursday.

SHANGHAI, May 12 (SMM) – LME copper will range USD 4,680-4,720/mt during Asian trading hours Thursday.

Crude oil prices bounced back overnight and US dollar index went lower. This will support copper prices. SHFE 1607 copper will fluctuate between RMB 35,800-36,200/mt on May 12. Spot copper will be offered at premiums of RMB 20-50/mt against SHFE 1605 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-12)

LME copper price

SHFE copper price

cu prices

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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