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SHFE Copper to Stay Range-Bound Trading (2016-8-29)
Aug 29, 2016 10:23Source: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.
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