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

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

Price Review & Forecast 09:37:53AM Aug 02, 2016 Source:SMM

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 to Face Downward Pressure (2016-8-2)

Price Review & Forecast 09:37:53AM Aug 02, 2016 Source:SMM

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)