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Home / Metal News / LME Copper to Face Downward Pressure (2016-8-2)

LME Copper to Face Downward Pressure (2016-8-2)

Aug 2, 2016 09:37

LME copper will face downward pressure and range USD 4,850-4,890/mt during Asian trading hours Tuesday.

SHANGHAI, Aug. 2 (SMM) – LME copper will face downward pressure and range USD 4,850-4,890/mt during Asian trading hours Tuesday.

Crude oil fell back while US dollar grew slightly overnight. LME copper posted declines.

SHFE 1609 copper will fluctuate between RMB 37,500-38,000/mt on Aug. 2. Spot copper in China will be offered at premiums of RMB 0-90/mt against SHFE 1608 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-2)

LME copper prices

SHFE copper 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

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 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

SHFE Copper Posts Declines (Mar. 30, 2016)

SHFE 1605 copper once dipped to RMB 37,200/mt after starting at RMB 37,580/mt overnight.

Mar 30, 2016 16:19

SMM Comments

LME Copper to Move in a Tight Range (2016-3-1)

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

Mar 1, 2016 09:34

SMM Comments

How Will Copper Price Response to Shift of Inventories from London to Shanghai? SMM Interviews

Copper inventories at SHFE-registered warehouses more than doubled since the end of last August, according to data. How will the change affect copper prices both in Shanghai and London?

Feb 25, 2016 11:46

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LME Copper to Face Downward Pressure (2016-8-2)

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