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Home / Metal News / SMM: Stock for Holiday Reaching highest, Clear Support for Copper Spot

SMM: Stock for Holiday Reaching highest, Clear Support for Copper Spot

Sep 27, 2017 09:10

Source:SMM

Support factors to the market have dropped off and rallies of premiums and discounts have been restrained, probably retracing within 200 yuan.

SHANGHAI, Sept. 27 (SMM)－The London Copper Index is expected to be volatile in a weak way, testing the support of 60-day moving average, running between $ 6380 and 6470 per tonne. For spot, most companies have been settling accounts and the note factor has weakened. Goods holders’ willingness against actual has strengthened. Support factors to the market have dropped off and rallies of premiums and discounts have been restrained, probably retracing within 200 yuan. The spot premiums is expected to move between 160-200 yuan per tonne.

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