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Home / Metal News / LME Copper to See Range-Bound Trading (2016-9-5)

LME Copper to See Range-Bound Trading (2016-9-5)

Sep 5, 2016 09:56

Source:SMM

LME copper should range between USD 4,615-4,655/mt on Monday and SHFE 1611 copper will move at RMB 36,350-36,700/mt.

SHANGHAI, Sept. 5 (SMM) – The expectation of interest rate hike in September rose due to positive US nonfarm payroll released last Friday, and US dollar rebounded from lows. LME copper is moving around the 5-day moving average on Monday morning.The contract should range between USD 4,615-4,655/mt on Monday and SHFE 1611 copper will move at RMB 36,350-36,700/mt. Spot prices in China are expected to trade at premiums of RMB 80-120/mt.

LME copper prices

SHFE copper prices

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LME Copper to See Range-Bound Trading (2016-9-5)

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