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Home / Metal News / SHFE Copper to Stay Firm (2017-7-25)

SHFE Copper to Stay Firm (2017-7-25)

Jul 25, 2017 09:30

LME copper will trade at USD 5,990-6,030/mt on Tuesday and SHFE 1709 copper will fluctuate between RMB 47,650-48,050/mt.

SHANGHAIM, Jul. 25 (SMM) – As fresh reading of US’s PMI was higher than expected, US dollar index will not drop sharply, or even rally from lows. LME copper will trade at USD 5,990-6,030/mt on Tuesday and SHFE 1709 copper will fluctuate between RMB 47,650-48,050/mt.

In China’s domestic market, spot copper should trade at discounts of RMB 50-0/mt. Downstream buyers will replenish stocks at low prices.

SHFE copper

LME copper

copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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