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Home / Metal News / LME Copper to Strengthen (2016-9-30)

LME Copper to Strengthen (2016-9-30)

Sep 30, 2016 09:53

Source: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

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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LME Copper to Strengthen (2016-9-30)

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