SHFE Copper to Underperform LME Copper (2017-8-24)-Shanghai Metals Market

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

Price Review & Forecast 09:48:04AM Aug 24, 2017 Source:SMM

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.


 

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

Price Review & Forecast 09:48:04AM Aug 24, 2017 Source:SMM

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.