Home / Metal News / Copper / Copper Prices to Rise Further (2017-10-16)
Copper Prices to Rise Further (2017-10-16)
Oct 16,2017 09:46CST
price review forecast
Source:SMM
Most Chinese economic data were positive.

SHANGHAI, Oct. 16 (SMM) – Most Chinese economic data were positive. M2 growth saw the first rally in eight months in September. Social financing and new yuan lending topped forecasts. Import and export data showed domestic and overseas demand was strong. Weaker dollar also benefited copper prices. SHFE copper stocks stayed low. Technical side is positive. So, copper prices will rise further, but longs may take profits at highs. LME copper will range USD 6,860-6,910/mt today, while SHFE 1712 copper will move at RMB 53,200-53,700/mt. Spot discounts will expand to RMB 150-50/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

For queries, please contact Frank LIU at liuxiaolei@smm.cn

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

Related news