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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)

iconOct 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
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