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 to See Range-Bound Trading (2016-9-5)
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.
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