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Home / Metal News / SHFE Copper to Extend Gains (2017-8-29)

SHFE Copper to Extend Gains (2017-8-29)

Aug 29, 2017 09:47

Source:SMM

SHFE 1710 copper hit new highs yesterday, and will rise further to RMB 52,400-52,900/mt today.

SHANGHAI, Aug. 29 (SMM) – SHFE 1710 copper hit new highs yesterday, and will rise further to RMB 52,400-52,900/mt today. Market should closely watch whether downstream producers will accept such high prices and where will capital go after this round of gains. LME copper will move at USD 6,730-6,780/mt.

Spot discounts are expected at RMB 70-130/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-29)

shfe copper prices

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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Copper in Shanghai spot market was offered at premiums of 150-200 yuan/tonne over SHFE 1710 copper on Wednesday.

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SMM Comments

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SMM Insight

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SMM Insight

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SHFE Copper to Extend Gains (2017-8-29)

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