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Home / Metal News / LME Copper to Fall Further (2017-10-20)

LME Copper to Fall Further (2017-10-20)

Oct 20, 2017 09:44

Source:SMM

LME copper will drop to USD 6,940-6,990/mt today on negative technical side, while SHFE 1712 copper will move at RMB 54,100-54,600/mt.

SHANGHAI, Oct. 20 (SMM) –LME copper will drop to USD 6,940-6,990/mt today on negative technical side, while SHFE 1712 copper will move at RMB 54,100-54,600/mt.

In domestic spot market, lower copper prices will attract downstream restocking. Weaker yuan will curtail inflows of imported copper. Spot premiums will be RMB 140-200/mt.

SHFE copper prices

copper prices

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UBS Raises Forecast for International Copper Prices

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LME copper is predicted to range between USD 4,870-4,915/mt during Asian trading hours on Wednesday and SHFE 1701 copper will move at RMB 38,700-39,150.

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LME copper should stabilize at USD 4,700-4,750/mt on Wednesday and SHFE 1612 copper will fluctuate between RMB 37,700-38,150/mt.

Oct 26, 2016 09:51

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Codelco’s 2017 Copper Premiums to Chinese and European Buyers to be Higher, SMM Expects

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