LME Copper to Gather Strength Next Week, SMM Says

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.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.