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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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LME approved the listing of JNMCc Grade A copper brand, produced by Guangxi Jinchuan Non-Ferrous Metals on September 19.

Sep 20, 2017 11:57

Industry

SHFE 1709 Copper Rallies at End of Trading (2017-7-6)

SHFE 1709 copper opened at RMB 46,890/mt today and then hovered around RMB 46,821/mt.

Jul 6, 2017 19:41

SMM Comments

SHFE 1709 Copper Rallies at End of Trading (2017-7-6)

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

Copper prices will have no reason to stay below $5,500 per tonne in the fundamental respect, said Radoslaw Domagalski-Labedzki, Chief Executive Officer (CEO) of KGHM.

May 9, 2017 15:12

Industry Reminder

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

LME Copper to Strengthen (2016-9-30)

LME copper will range between USD 4,820-4,860/mt on Friday and SHFE 1611 copper is predicted to move at RMB 37,500-37,800/mt.

Sep 30, 2016 09:53

SMM Comments

SHFE Copper Ends Lower (2016-9-8)

SHFE 1611 copper started at RMB 36,640/mt and closed at RMB 36,570/mt, down RMB 90/mt with positions down 280.

Sep 8, 2016 17:28

SMM Comments

38% China Copper Smelters See Declines for Copper Prices This Week, SMM Survey

38% Chinese copper smelters expect LME copper to fall below USD 4,650/mt this week and SHFE 1608 copper to drop below RMB 36,000/mt.

Jun 28, 2016 10:30

SMM Comments

LME Copper Set for Gains (2016-6-14)

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

LME Copper to Swing Widely (2016-6-3)

LME copper will widely range USD 4,580-4,620/mt during Asian trading hours Friday.

Jun 3, 2016 09:54

SMM Comments

LME Copper to Stay Weak (2016-5-16)

LME copper will remain weak and range USD 4,590-4,630/mt during Asian trading hours Monday due to negative economic figures from China.

May 16, 2016 09:36

SMM Comments

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

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

May 12, 2016 09:36

SMM Comments

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

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