LME Copper to Gather Strength Next Week, SMM Says

Published: Sep 9, 2016 18:45

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LME copper is forecast to gather strength to challenge the 20-day moving average in the coming week and will fluctuate between $ 4,620-4,730 per tonne

SHANGHAI, Sep. 9 (SMM) – LME copper is forecast to gather strength to challenge the 20-day moving average in the coming week and will fluctuate between $ 4,620-4,730 per tonne with support at the 10-day moving average.

SHFE 1611 copper finds support at 36,400 yuan per tonne currently and may gather strength to challenge the 20-day moving average. There will be only three trading days in the coming week due to China’s Mid-Autumn Festival on September 15-17 and investors may exit market for safety. SHFE 1611 copper will narrowly range 36,300-37,000 yuan per tonne in the coming week.

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