Copper to Remain Range-Bound (2017-3-23)

Copper prices are likely to dip even as supply and demand have given support to domestic fundamentals.

SHFE copper prices hovered in a narrow range around 68,300 yuan/mt last week. The US dollar index edged up and stood at 92.7 on Friday. The Fed will focus on the inflation rate and employment rate this year. PMI from China, Europe and the United States are scheduled for this week.

Copper prices extended gains in 2017 after a surge in 2016, with SHFE copper popping over 20% so far this year.

Barclays lowered its forecast for copper prices in the second half of 2017, according to wenhua.com.

Copper prices have been in a downward track from mid-February. Prices rose over 4% last week after a string of news, including better-than-expected import and export data from China, 498 billion yuan

India major brass and copper scrap prices dropped on Friday, while copper futures prices at India's Multi Commodity Exchange settled down as traders unwound speculative positions on doubts that the po

Recent sharp gains in copper prices bit into profit at some copper wire & cable producers. Are they really significantly hurt by this?

Copper prices have climbed 25% in November after hovering at lows in the first ten months of this year.

LME copper will swing widely next week, while SHFE copper is poised for a rebound, SMM expects.

The US dollar index consolidated at lows, while crude oil prices continued to rebound.