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Home / Metal News / LME Copper to Look for Price Floor Next Week

LME Copper to Look for Price Floor Next Week

May 20, 2016 17:37

Source:SMM

LME copper will look for price floor and move between $4,520-4,650 per tonne next week, SMM predicts.

SHANGHAI, May 20 (SMM) – LME copper will look for price floor and move between $4,520-4,650 per tonne next week, SMM predicts.

The US dollar index will continue to weigh on copper, SMM says. LME zinc inventories climbed further, narrowing backwardation on LME 3-month copper from $15 per tonne at the start of May to $2 per tonne.

The most actively traded copper contracts on the SHFE will move between 34,500-36,000 yuan per tonne. Any selling pressure will be limited.

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LME copper will trade at USD 5,990-6,030/mt on Tuesday and SHFE 1709 copper will fluctuate between RMB 47,650-48,050/mt.

Jul 25, 2017 09:30

SMM Comments

50% China Copper Smelters Expect Declines for Copper Prices This Week, SMM Surveys

50% Chinese copper smelters surveyed by SMM see LME copper to fall below USD 4,750/mt this week and SHFE 1610 copper to drop below RMB 37,000/mt.

Aug 23, 2016 10:31

SMM Comments

LME Copper to Hover at Lows (2016-8-15)

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Aug 15, 2016 09:09

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Will Rising LME Copper Inventories Put Brakes on Copper Gains? SMM Reports

In early June, copper prices tumbled with rising LME copper inventories, and will the recent growth in LME copper inventories trigger stop the rising momentum on the copper market?

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LME Copper to Look for Price Floor Next Week

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2024 （13TH）SMM METAL INDUSTRY ANNUAL CONFERENCE

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