LME Copper to See Range-Bound Trading (2016-8-30)

Published: Aug 30, 2016 09:53

Save

LME copper will range between USD 4,615-4,655/mt today and SHFE 1610 copper should fluctuate at RMB 36,200-36,600/mt.

SHANGHAI, Aug.30 (SMM) - Market players are waiting for a direction from China’s PMI data and US nonfarm payroll report. Crude oil stabilizes. LME copper will range between USD 4,615-4,655/mt today and SHFE 1610 copper should fluctuate at RMB 36,200-36,600/mt. Spot prices are expected to trade at premiums of RMB 0-50/mt.

LME copper prices SHFE copper prices Copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 mins ago

[SMM Analysis] Increased Downstream Procurement Activity for Nickel Intermediate Products, Tight Supply and Demand Drove Prices Higher

Downstream Purchasing Activity for Nickel Intermediate Products Increased, Tight Supply and Demand Drove Prices Higher

17 mins ago

24 mins ago

[SMM Nickel Midday Review] On March 20, Nickel Prices Rebounded After an Oversell, and the Central Bank Will Continue to Implement a Moderately Accommodative Monetary Policy

24 mins ago

26 mins ago

[NPI Daily Review] Low-Priced Sell-Offs Triggered Panic Sentiment, and High-Grade NPI Declined in Stages

[SMM Daily Review: Low-Priced Sell-Offs Fueled Panic Sentiment, Triggering a Phased Decline in High-Grade NPI] March 20 News: SMM's upstream sentiment factor for high-grade NPI was 2.84, down 0.04 MoM, while the downstream sentiment factor for high-grade NPI was 1.63, up 0.04 MoM.

26 mins ago