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Home / Metal News / LME Copper to See Upward Correction (2016-6-22)

LME Copper to See Upward Correction (2016-6-22)

Jun 22, 2016 09:26

Source:SMM

LME copper will face upward correction and range USD 4,650-4,700/mt during Asian trading hours Wednesday.

SHANGHAI, Jun. 22 (SMM) – LME copper will face upward correction and range USD 4,650-4,700/mt during Asian trading hours Wednesday.

Crude oil prices bounce back from lows, This, coupled with Brexit relief, will boost base metals prices.

SHFE 1608 copper will fluctuate between RMB 35,600-36,000/mt on Jun. 22. Spot copper in China will be offered at premiums of RMB 80-120/mt against SHFE 1607 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-22)

LME copper prices

SHFE copper prices

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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May 9, 2017 15:12

Industry Reminder

KGHM: Copper Has No Fundamental Reason to Stay below $5,500

SHFE Copper Ends Higher (2016-9-2)

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SMM Comments

SHFE Copper to Stay Range-Bound Trading (2016-8-29)

SHFE copper is expected to range at RMB 36,200-36,600/mt, supported by positive reading of China’s profits for industrial enterprisesin July.

Aug 29, 2016 10:23

SMM Comments

LME Copper to Underperform SHFE Copper Next Week, SMM Expects

LME copper will swing widely next week, while SHFE copper is poised for a rebound, SMM expects.

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SMM Insight

50% China Copper Smelters Expect Rises for Copper Prices This Week, SMM Survey

SMM survey shows that 50% Chinese copper smelters see LME copper to break through USD 4,950/mt this week and SHFE 1609 copper to grow above RMB 38,500/mt.

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SMM Comments

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Jul 4, 2016 09:13

SMM Comments

LME Copper to Consolidate at Highs (2016-7-1)

LME copper will consolidate at highs of USD 4,810-4,860mt during Asian trading hours Friday with growing sell-off pressure.

Jul 1, 2016 09:32

SMM Comments

LME Copper to Move at Highs (2016-6-29)

LME copper will remain at highs of USD 4,780-4,840mt during Asian trading hours Wednesday.

Jun 29, 2016 09:32

SMM Comments

LME Copper to Fall Back (2016-6-15)

LME copper will slide to USD 4,510-4,560/mt during Asian trading hours Wednesday due to firmer dollar and softer crude oil prices.

Jun 15, 2016 09:41

SMM Comments

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LME copper will grow to USD 4,540-4,585/mt during Asian trading hours Tuesday thanks to softer dollar.

Jun 14, 2016 09:47

SMM Comments

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LME Copper to See Upward Correction (2016-6-22)

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Li-ION BATTERY China

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