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Home / Metal News / Copper Prices to Challenge Previous Highs (2017-10-13)

Copper Prices to Challenge Previous Highs (2017-10-13)

Oct 13, 2017 09:17

Source:SMM

Position structure shows longs are raising bets on distant month contracts.

SHANGHAI, Oct. 13 (SMM) – Position structure shows longs are raising bets on distant month contracts. Technical side is positive. A soft dollar will also offer upward momentum to copper prices. LME copper will range USD 6,850-6,900/mt today, while SHFE 1712 copper will move at RMB 53,200-53,700/mt. Spot discounts will expand to RMB 100-250/mt in domestic market if the price spread between SHFE 1710 and 1711 copper remains large.

SHFE copper prices

copper prices

base metal price forecast

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SHANGHAI, Feb 9 - The average daily spot price of SMM1# copper was 71,070 yuan/mt on the first day after the Spring Festival, an increase of 570 yuan/mt from January 28, and the closing price of SHFE copper was 70,430 yuan/mt, an increase of 140 yuan/mt.

Feb 9, 2022 14:24

SMM Comments SMM Insight

Low Inventories Will Support Copper Prices Amid Diverging Macro Signals in China and Overseas

Chinese Smelters to Increase Exports as Short Squeeze Pushed LME Copper Prices Higher

As Europe’s largest refined zinc producer Nyrstar decided to cut output in the fourth quarter due to the soaring electricity prices in Europe and the significant increase in carbon emissions-related costs, the market concerns of inflation caused by the global energy crisis has risen sharply. And the sharp growth in the cost of industrial products will gradually be passed onto the prices.

Oct 28, 2021 16:03

Analysis

Chinese Smelters to Increase Exports as Short Squeeze Pushed LME Copper Prices Higher

SMM Price Outlook for Base Metals on SHFE (Jul. 20, 2017)

On Wednesday’s night trading, the dollar stopped falling, but a weak dollar is expected to be remain, and base metals will keep fluctuating.

Jul 20, 2017 09:38

SMM Insight Industry

SMM Price Outlook for Base Metals on SHFE (Jul. 20, 2017)

LME Copper to See Range-Bound Trading (2016-12-9)

LME copper is predicted to range between USD 5,750-5,850/mt during Asian trading hours on Friday and SHFE 1702 copper will move at RMB 46,500-47,500/mt.

Dec 9, 2016 09:51

SMM Comments

Base Metals to Diverge, SMM Says

Base metal prices on the SHFE are expected to diverge on Friday, Shanghai Metals Market foresees.

Dec 9, 2016 09:15

SMM Insight Industry

Volatility to Grow in Base Metals, SMM Says

Base metal prices on the SHFE are expected to be volatile on Thursday, Shanghai Metals Market foresees.

Dec 8, 2016 09:14

SMM Insight Industry

SHFE Copper Ends with Gains (2016-12-5)

SHFE 1702 copper opened at RMB 46,650/mt and finally closed at RMB 47,360/mt, up RMB 710/mt.

Dec 5, 2016 19:36

SMM Comments

Key Macroeconomic Indicators for Base Metal Prices (2016-12-5)

Market investors will likely pay more attention to Eurozone among various economic data and news this week.

Dec 5, 2016 10:12

SMM Comments

Base Metals to Swing in Wide Range, SMM Says

Base metal prices on the SHFE are expected to trade in a wide range this week, Shanghai Metals Market predicts.

Dec 5, 2016 09:18

SMM Insight Industry

Caution Grows ahead of US Nonfarm Data, SMM Says

Base metal prices on the SHFE are expected to trade cautiously during Asian trading hours on Friday, Shanghai Metals Market foresees.

Dec 2, 2016 09:14

SMM Insight Industry

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Copper Prices to Challenge Previous Highs (2017-10-13)

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