LME Copper to Stay Range-Bound (2016-8-1)

Published: Aug 1, 2016 09:13

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LME copper will narrowly range USD 4,885-4,935/mt during Asian trading hours Monday.

SHANGHAI, Aug. 1 (SMM) – LME copper will narrowly range USD 4,885-4,935/mt during Asian trading hours Monday.

US dollar was dragged down by negative reading of US Q2 GDP and markets expect US July ISM manufacturing PMI to be disappointing.

SHFE 1609 copper will fluctuate between RMB 37,500-38,000/mt on Aug. 1. Spot copper in China will be offered at discounts of RMB 10/mt and premiums of RMB 60/mt against SHFE 1608 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-1)

LME copper prices SHFE copper prices

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