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

Published: Sep 29, 2016 10:00

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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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