LME Copper to Outperform SHFE Copper (2017-9-8)

Published: Sep 8, 2017 09:38

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Capital outflows led to corrections in base metals, but copper held relatively firm.

SHANGHAI, Sep. 8 (SMM) – Capital outflows led to corrections in base metals, but copper held relatively firm. Copper prices will face growing resistance, though. A stronger yuan will cause SHFE copper to perform not as well as LME copper.

LME copper will range USD 6,880-6,930/mt today, while SHFE 1711 copper will move at RMB 52,550-52,950/mt.

In domestic spot market, spot premiums of RMB 10-70/mt are expected.

SHFE copper prices copper prices base metal price forecast

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