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Home / Metal News /  SHFE Copper to Drop Slightly (2017-7-10)

SHFE Copper to Drop Slightly (2017-7-10)

iconJul 10, 2017 09:57
Source:SMM
There is a low chance for LME copper to keep falling on Monday, and the contract will trade at USD 5,800-5,850/mt on Monday and SHFE 1709 copper will drop slightly to RMB 46,600-46,900/mt.

SHANGHAIM, Jul. 10 (SMM) – Eyes should be on China’s CPI and PPI in June, and CPI is expected to rise. China will also release M2 money supply, new yuan loans in the week. There is a low chance for LME copper to keep falling on Monday, and the contract will trade at USD 5,800-5,850/mt on Monday and SHFE 1709 copper will drop slightly to RMB 46,600-46,900/mt.

In China’s domestic market, price gap between SHFE 1707 and 1708 copper will keep narrowing with nearing of delivery data, and spot copper should trade at premiums of RMB 10-50/mt on Monday.  

SHFE copper
LME copper
copper prices

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