LME Copper to Move in a Tight Range (2016-8-9)

Published: Aug 9, 2016 09:32

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LME copper will narrowly range USD 4,775-4,815/mt during Asian trading hours Tuesday.

SHANGHAI, Aug. 9 (SMM) – LME copper will narrowly range USD 4,775-4,815/mt during Asian trading hours Tuesday.

US dollar moves at highs and this boost anticipation for a rate hike in 2016. Crude oil will likely enter downward track.

SHFE 1610 copper will fluctuate between RMB 37,300-37,700/mt on Aug. 9. Spot copper in China will be offered at premiums of RMB 10-130/mt against SHFE 1608 copper.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-9)

LME copper prices SHFE copper prices

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