SHANGHAI, Sep. 12 (SMM) – Some longs entered at lows yesterday. This, plus strong aluminum, offered solid support to LME copper at the 20-day moving average. With a weak dollar, LME copper should hold up at current level if other base metals perform well. LME copper will range USD 6,730-6,780/mt today, while SHFE 1711 copper will move at RMB 51,650-52,100/mt.
In domestic spot market, spot premiums will be RMB 10-60/mt.