LME Copper to Face Downward Pressure (2016-9-19)
LME copper is predicted to keep testing support at the 40-day moving average and will range between USD 4,730-4,770/mt on Monday. SHFE 1611 copper is expected to move at RMB 37,000-37,400/mt today.
SHANGHAI, Sept. 19 (SMM) – LME copper is predicted to keep testing support at the 40-day moving average and will range between USD 4,730-4,770/mt on Monday. SHFE 1611 copper is expected to move at RMB 37,000-37,400/mt today.
In China’s domestic market, spot copper should be traded at premiums of RMB 50-120/mt on Monday.
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.
