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Home / Metal News / SHFE Copper to Underperform LME Copper (2017-8-24)

SHFE Copper to Underperform LME Copper (2017-8-24)

Aug 24, 2017 09:48

Source:SMM

Copper market lacks rising momentum, and LME copper will meet resistance at USD 6,600/mt, and SHFE copper will underperform LME copper.

SHANGHAI, Aug. 24 (SMM) – Copper market lacks rising momentum, and LME copper will meet resistance at USD 6,600/mt, and SHFE copper will underperform LME copper.

On Thursday, LME copper is expected to trade at USD 6,555-6,605/mt, and SHFE 1710 copper will fluctuate at RMB 51,400-51,900/mt.

In China’s domestic spot market, the struggles between buyers and sellers will be continuing. Downstream producers will purchase based on needs, and overall trading is estimated to be thin, and spot copper should trade at discounts of RMB 150-100/mt.

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