Copper Price to Remain Range-Bound Next Week, SMM Says

SHANGHAI, Jul. 22 (SMM) - LME copper is expected to experience corrections next week, pointing toward $5,000 per tonne, and SHFE September copper will fluctuate between 37,750-39,000 yuan per tonne, SMM says.

The US dollar index is expected to maintain upward momentum next week, leaving LME zinc in check. As yuan’s devaluation appeared to have been arrested, boost for China’s base metals should weaken significantly.

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