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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

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