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SHFE Copper to Strengthen (2016-12-28)
Dec 28, 2016 09:36Source:SMM
LME copper will range between USD 5,540-5,690/mt and SHFE 1703 copper is predicted to move at RMB 45,150-46,340/mt on Wednesday.
SHANGHAI, Dec. 28 (SMM) – Market will see light data on Wednesday. LME market resumes trading on Wednesday, and LME copper is expected to open higher with firm SHFE 1703 copper and will range between USD 5,540-5,690/mt. SHFE 1703 copper is expected to increase with strong rising strength on Wednesday but will meet resistance at the 20-day moving average, and there is a possible decline resulted by exits of longs. SHFE 1703 copper is predicted to move at RMB 45,150-46,340/mt on Wednesday.
In China’s domestic market, spot copper should trade at discounts of RMB 300-160/mt on Wednesday.
SHFE copper
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