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LME Copper to Find Strong Support (2017-9-25)
Sep 25,2017 09:50CST
price review forecast
Source:SMM
LME copper will find strong support at USD 6,400/mt after touching the 60-day moving average.

SHANGHAI, Sept. 25 (SMM) –LME copper will find strong support at USD 6,400/mt after touching the 60-day moving average. The US dollar will stay at lows. High spot premiums in domestic spot market reflects tight supply. Imported copper did not flow in. When combined with pre-holiday stocking, spot premiums will remain high at RMB 80-130/mt. LME copper will range USD 6,460-6,510/mt, and SHFE 1711 copper will move at RMB 50,100-50,600/mt.    



 

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