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SHFE Copper to Extend Gains (2017-8-29)
Aug 29,2017 09:47CST
price review forecast
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)

 

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