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LME Copper to Outperform SHFE Copper (2017-9-8)
Sep 8,2017 09:38CST
price review forecast
Source:SMM
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. 


 

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