LME Copper to Hover at Highs (2016-11-4)-Shanghai Metals Market

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LME Copper to Hover at Highs (2016-11-4)

Price Review & Forecast 09:39:39AM Nov 04, 2016 Source:SMM

SHANGHAI, Nov. 4 (SMM) – LME copper is expected to hover between USD 4,920-4,960/mt on Friday and will keep rising on Friday’s night trading. Market players turn to be wary on SHFE 1701 copper, waiting for direction from US nonfarm payroll report. SHFE 1701 copper should keep hovering at RMB 39,000-39,400/mt on Friday.

In China’s domestic market, spot copper should trade at premiums of RMB 120-170/mt on Friday.

Key Words:  LME copper  SHFE copper  copper prices 

Price

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#1 Refined Cu
Apr.22
49450.0
20.0
(0.04%)
Yangshan Copper Premium(Bill of Lading)
Apr.22
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.22
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

LME Copper to Hover at Highs (2016-11-4)

Price Review & Forecast 09:39:39AM Nov 04, 2016 Source:SMM

SHANGHAI, Nov. 4 (SMM) – LME copper is expected to hover between USD 4,920-4,960/mt on Friday and will keep rising on Friday’s night trading. Market players turn to be wary on SHFE 1701 copper, waiting for direction from US nonfarm payroll report. SHFE 1701 copper should keep hovering at RMB 39,000-39,400/mt on Friday.

In China’s domestic market, spot copper should trade at premiums of RMB 120-170/mt on Friday.

Key Words:  LME copper  SHFE copper  copper prices