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Home / Metal News / LME Copper to Move Lower (2017-5-4)

LME Copper to Move Lower (2017-5-4)

May 4, 2017 09:36

LME copper will move at USD 5,560-5,610/mt during Asian trading hours on Thursday and SHFE 1706 copper will move at RMB 45,400-45,800/mt.

SHANGHAI, May 4 (SMM) – LME copper declined on Wednesday’s night trading as delivery by large traders increased LME copper inventory sharply, SMM learned. The inventory is expected to rise further, weighing down LME copper. LME copper will move at USD 5,560-5,610/mt during Asian trading hours on Thursday and SHFE 1706 copper will move at RMB 45,400-45,800/mt.

In China’s domestic market, spot copper should trade at premiums of RMB 30-80/mt on Thursday.

SHFE copper

LME copper

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