Will Rises in Copper Market Come to Halt? SMM Surveys-Shanghai Metals Market

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Will Rises in Copper Market Come to Halt? SMM Surveys

SMM Insight 07:33:21PM Jul 28, 2017 Source:SMM

SHANGHAI, Jul. 28 (SMM) – As of closing time at Asian daily trading hours on July 28, SHFE 1709 copper advanced by 3.61 per cent or 1,740 yuan per tonne, with prices mainly trading between 47,720-50,730 yuan per tonne.

Will the gain be continuing or come to a halt in the coming week?

Many Scrap Copper Rod Plants Close in Jiangxi and Anhui for Fake Invoice, SMM Reports

According to SMM survey of market participants, approximately 50 per cent of market participants are bearish, and price may fall by more than 2 per cent. 

Around 31 per cent of participants take a neutral stance, expecting copper price to trade at +- 2% per cent over closing price of 49,940 yuan per tonne in daily trading on July 28, and the rest are bullish, seeing a 2 per cent in price gains. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

 

Will Rises in Copper Market Come to Halt? SMM Surveys

SMM Insight 07:33:21PM Jul 28, 2017 Source:SMM

SHANGHAI, Jul. 28 (SMM) – As of closing time at Asian daily trading hours on July 28, SHFE 1709 copper advanced by 3.61 per cent or 1,740 yuan per tonne, with prices mainly trading between 47,720-50,730 yuan per tonne.

Will the gain be continuing or come to a halt in the coming week?

Many Scrap Copper Rod Plants Close in Jiangxi and Anhui for Fake Invoice, SMM Reports

According to SMM survey of market participants, approximately 50 per cent of market participants are bearish, and price may fall by more than 2 per cent. 

Around 31 per cent of participants take a neutral stance, expecting copper price to trade at +- 2% per cent over closing price of 49,940 yuan per tonne in daily trading on July 28, and the rest are bullish, seeing a 2 per cent in price gains. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.