SHFE Copper to See Range-Bound Trading (2016-8-29)-Shanghai Metals Market

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SHFE Copper to See Range-Bound Trading (2016-8-29)

Price Review & Forecast 10:16:36AM Aug 29, 2016 Source:SMM

SHANGHAI, Aug. 29 (SMM) - US Federal Reverse officials delivered hawkish comments, which boosted expectation of interest rate hike.Thus, LME copper fluctuated at lows. LME market closes today. 

SHFE copper is expected to range at RMB 36,200-36,600/mt, supported by positive reading of China’s profits for industrial enterprisesin July. Spot prices are expected to trade at premiums of RMB 0-40/mt. 


SHFE Copper to See Range-Bound Trading (2016-8-29)

Price Review & Forecast 10:16:36AM Aug 29, 2016 Source:SMM

SHANGHAI, Aug. 29 (SMM) - US Federal Reverse officials delivered hawkish comments, which boosted expectation of interest rate hike.Thus, LME copper fluctuated at lows. LME market closes today. 

SHFE copper is expected to range at RMB 36,200-36,600/mt, supported by positive reading of China’s profits for industrial enterprisesin July. Spot prices are expected to trade at premiums of RMB 0-40/mt.