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

Aug 29, 2016 10:23

Source:SMM

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.

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 prices

LME copper prices

copper prices

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

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