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

Published: Jul 25, 2017 09:30

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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

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