What’s Outlook for Copper Price This Week? SMM Surveys

SHANGHAI, Jul. 17 (SMM) – Last week, LME copper fell at first, and then rallied, and SHFE 1709 copper, following LME copper, dropped in early week, but then advanced with position opening by longs. 

SMM Copper Demand Surprise Index: China Copper Demand Outperforms Expectation both in June and July 2017

What’s outlook for copper price this week? 

SMM survey of major market participants finds that approximately 35 per cent of them are bullish, expecting SHFE 1709 copper to be at +2 per cent over price in daily trading on July 14. 

About 40 per cent of participants take neutral stance, while the rest are bearish over copper price this week. 

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SMM expects SHFE three-month copper to hover at highs, with prices expected between 46,500 -47,500 per tonne this week. 

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