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Home / Metal News / LME Copper Sets for Gains (2016-9-29)

LME Copper Sets for Gains (2016-9-29)

Sep 29, 2016 10:00

Source:SMM

LEM copper will range between USD 4,835-4,865/mt on Thursday and SHFE 1611 copper should move at RMB 37,450-37,800/mt.

SHANGHAI, Sept. 29 (SMM) – Members of OPEC already reached consensus on oil output freeze in September’s meeting, crude oil thus grew by 6%, leading US dollar to stay weak. LEM copper will range between USD 4,835-4,865/mt on Thursday and SHFE 1611 copper should move at RMB 37,450-37,800/mt.

In China’s domestic market, spot copper is expected to trade at premiums of RMB 150-200/mt on Thursday.

LME copper prices

SHFE copper prices

copper prices

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50% Chinese copper smelters surveyed by SMM see LME copper to fall below USD 4,750/mt this week and SHFE 1610 copper to drop below RMB 37,000/mt.

Aug 23, 2016 10:31

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Feb 26, 2016 15:24

Industry

SHFE Copper to Bounce Back (2016-2-25)

SHFE 1604 copper will rally after touching the 20-day moving average in response to crude prices and should range RMB 35,950-36,200/mt on Feb. 25.

Feb 25, 2016 09:35

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60% China Copper Producers See Copper Prices to Grow This Week, SMM Survey

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Feb 23, 2016 10:20

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LME Copper Sets for Gains (2016-9-29)

SMM Events & Webinars

2024 （13TH）SMM METAL INDUSTRY ANNUAL CONFERENCE

2024 GLOBAL BATTERY RECYCLING CONFERENCE

APAC TIN INDUSTRY CONFERENCE 2024