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Home / Metal News / LME Copper to Face Downward Pressure (2016-9-23)

LME Copper to Face Downward Pressure (2016-9-23)

Sep 23, 2016 09:58

Source:SMM

LME copper should stabilize at USD 4,815-4,855/mt on Friday and SHFE 1611 copper will range between RMB 37,500-37,850/mt.

SHANGHAI, Sept. 23 (SMM) – US dollar index rallied from lows and crude oil stopped rising. LME copper should stabilize at USD 4,815-4,855/mt on Friday and SHFE 1611 copper will range between RMB 37,500-37,850/mt.

In China’s domestic market, spot copper should be traded at premiums of RMB 80-120/mt on Friday.

LME copper prices

SHFE copper

Copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SHFE 1611 copper started lower at RMB 37,840/mt and ended at RMB 37,760/mt.

Sep 26, 2016 18:08

SMM Comments

SHFE Copper Ends with Small Losses (2016-9-26)

SHFE 1611 copper started lower at RMB 37,840/mt and finally ended at RMB 37,760/mt.

Sep 26, 2016 17:58

SMM Comments

Will Persistent Global Shortfall Help Copper Prices Get Rid of Multi-Year Resistance? SMM Reports

Market has been pessimistic over copper market fundamentals since the beginning of this year due to expansions at two large copper mines in Peru, leaving copper prices struggling at lows.

Sep 23, 2016 10:23

SMM Comments

SHFE Copper Ends with Small Gains (2016-9-21)

SHFE 1611 copper opened at RMB 37,360/mt and finally closed at RMB 37,300/mt, up RMB 60/mt with positions down 2,578.

Sep 21, 2016 17:19

SMM Comments

LME Copper to Strengthen (2016-9-21)

LME copper is predicted to move at USD 4,750-4,790/mt on Wednesday and SHFE 1611 copper will range between RMB 37,250-37,550/mt.

Sep 21, 2016 09:36

SMM Comments

SHFE Copper Closes Higher (2016-9-20)

SHEF 1611 copper opened at RMB 37,240/mt and closed at RMB 37,280/mt, up RMB 170/mt with positions down 6,998.

Sep 20, 2016 17:47

SMM Comments

North American Copper Scrap Prices Unchanged On Index on 19th Sep, 2016

The North American copper scrap prices remained flat on September 19th, Monday.

Sep 20, 2016 14:37

SMM Comments

SHFE Copper Closes with Gains (2016-9-14)

SHFE 1611 copper started at RMB 36,600/mt and ended at RMB 36,730/mt, up RMB 250/mt with positions down 16,066.

Sep 14, 2016 16:39

SMM Comments

Copper Price Forecast, September 2016: Prices Dip this Week on Stronger U.S. Dollar

Copper prices dipped this week with a stronger U.S. dollar hindering foreign demand for the metal.

Sep 14, 2016 14:25

SMM Comments

LME Copper Set for Gains (2016-6-14)

LME copper will grow to USD 4,540-4,585/mt during Asian trading hours Tuesday thanks to softer dollar.

Jun 14, 2016 09:47

SMM Comments

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LME Copper to Face Downward Pressure (2016-9-23)

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