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Home / Metal News / Copper Prices to Continue Falling (2017-9-11)

Copper Prices to Continue Falling (2017-9-11)

Sep 11, 2017 09:43

Capital has flowed out from base metals market for three days on market panic.

SHANGHAI, Sep. 11 (SMM) – Capital has flowed out from base metals market for three days on market panic. Copper prices will face further downward pressure in the short term. LME copper will range USD 6,670-6,720/mt today, while SHFE 1711 copper will move at RMB 50,750-51,200/mt.

In domestic spot market, holders of hedged goods will rush to sell. Lower SHFE copper will probably widen spot premiums to RMB 10-50/mt.

SHFE copper prices

copper prices

base metal price forecast

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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LME copper will swing widely next week, while SHFE copper is poised for a rebound, SMM expects.

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SMM Insight

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Aug 18, 2016 09:23

Industry

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SMM Comments

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SHFE Tin to Face Downward Pressure (2016-7-6)

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Jul 6, 2016 09:20

SMM Comments

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Jul 4, 2016 09:27

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Copper Prices to Continue Falling (2017-9-11)

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