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LME Copper to Strengthen (2016-9-30)
Sep 30, 2016 09:53Source:SMM
LME copper will range between USD 4,820-4,860/mt on Friday and SHFE 1611 copper is predicted to move at RMB 37,500-37,800/mt.
SHANGHAI, Sept. 30 (SMM) – Eyes should be on China’s Caixin manufacturing PMI on Friday. LME copper will range between USD 4,820-4,860/mt on Friday. SHFE 1611 copper is predicted to move at RMB 37,500-37,800/mt today with positions closing by shorts in the last trading day before China’s National Day Holiday during October 1-7.
In China’s domestic market, downstream buyers replenish goods in a small amount. Hence, spot copper premiums should drop to RMB 120-170/mt on Friday.
SHFE copper prices
LME copper prices
copper prices
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