LME Copper to Move in a Tight Range (2016-8-26)
LME copper should fluctuate between USD 4,625-4,665/mt on Friday and SHFE 1610 copper will range between RMB 36,100-36,600/mt. Spot prices are expected to trade at premium of RMB 0-50/mt.
SHANGHAI, Aug. 26 (SMM) – The US Federal Reserve Chair Janet Yellen’s statement on central banks annual meeting will affect movements of US dollar. Crude oil keeps fluctuating with mixed factors.
LME copper should fluctuate between USD 4,625-4,665/mt on Friday and SHFE 1610 copper will range between RMB 36,100-36,600/mt. Spot prices are expected to trade at premium of RMB 0-50/mt.
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