Morgan Stanley: Fundamentals Not Good Enough to Keep Copper Price above $6,600

Published: Sep 13, 2017 11:25

Save

Morgan Stanley reckons fundamentals are not good enough to leave copper prices above $6,600 per tonne.

SHANGHAI, Sept. 13 (SMM) – Morgan Stanley reckons fundamentals are not good enough to leave copper prices above $6,600 per tonne.

SMM Releases Copper PMI in August and September Forecast

Foreign trade for copper remains sluggish this year. Despite improvement in economic activities in September, construction and public investment slowed.

Goldman Sachs Sees Copper Price Fall in 6-12 Months

LME copper rose 0.9% to $6,755.50 per tonne recently, but dropped 3% to the lowest from May last Friday.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

Morgan Stanley metal price copper price

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

52 mins ago

Tender Notice for Projects Including Safe and Energy-Efficient Copper Conductor Rails

52 mins ago

1 hour ago

The Most-Traded BC Copper Contract Closed Down 1.16%, Inflation Concerns Suppressed Expectations for Interest Rate Cuts [SMM BC Copper Commentary]

1 hour ago

3 hours ago

SHFE Copper Broke Below the 100,000 Mark Again, and Downstream Purchase Sentiment Cooled

Intraday, the SHFE copper 2603 contract fell below the 100,000-yuan mark for the second time after trading began. According to SMM, spot market activity today pulled back from March 9, when the contract first fell below 100,000 yuan, with overall trading sentiment remaining subdued on both buying and selling sides. On March 16, 2026, SMM's sentiment index for procurement in the Shanghai spot market was 2.53, while the sales sentiment index was 2.63, both down 0.29 from March 9. Historical data is available in the database. According to SMM, when copper prices fell below 100,000 yuan on March 9, some enterprises had restocking demand, which briefly boosted spot trade and brought it to a post-Chinese New Year trading high. But based on market feedback today, the contract rollover in futures may have had an impact. With copper prices again trading below the 100,000-yuan threshold, downstream enterprises showed signs of weaker acceptance.

3 hours ago