LME Copper to Find Support (2017-9-12)-Shanghai Metals Market

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LME Copper to Find Support (2017-9-12)

Price Review & Forecast 09:32:30AM Sep 12, 2017 Source:SMM

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. 


 

LME Copper to Find Support (2017-9-12)

Price Review & Forecast 09:32:30AM Sep 12, 2017 Source:SMM

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.