What Direction Will Copper Price Go in Coming Week? SMM Surveys

Published: Jul 21, 2017 18:45

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As of Asian daily trading hours on July 21, SHFE 1709 copper traded between 47,120-48,110 yuan per tonne from Monday to Friday, up 1.7 per cent, which was in line with SMM previous survey result.

SHANGHAI, Jul. 21 (SMM) – As of Asian daily trading hours on July 21, SHFE 1709 copper traded between 47,120-48,110 yuan per tonne from Monday to Friday, up 1.7 per cent, which was in line with SMM previous survey result.

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

What’s price outlook in the coming week? Will the gain be continuing?

According to SMM survey, approximately 53 per cent of participants in the survey take neutral stance, expecting copper price to be at +-2% per cent over closing price in daily trading on July 21.

Copper Inventories in Shanghai Bonded Zone Decline This Week, SMM Reports

About 34 per cent of them are bullish, against bearish bets among 13 per cent of participants.

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