SHANGHAIM, Jul. 24 (SMM) – There is a small possibility for copper price to drop in a short term. LME copper will trade at USD 5,970-6,020/mt on Monday. Eyes should be on GDP from UK and US in Q2 2017 and annual profits at China’s above-scale industrial enterprises in June. SHFE 1709 copper will fluctuate between RMB 47,600-48,200/mt.

In China’s domestic market, spot copper should trade at discounts of RMB 50-0/mt.