Copper Price Forecast, Nov 8th

Published: Nov 08, 2017 11:42 (GMT+8)

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Copper price goes down under the impact of copper imports.

SHANGHAI, Nov.8 (SMM)－Large amount of copper imports flowed in. Copper spot lost its support and there is still room for price decline. The price will swing and gradually go down in the short term. LME copper is estimated to be around 6,800-6,850 dollar / tonne, and CU1801 around 53,250-53,800 yuan / tonne. Focus on spot commodity will be whether more purchases will happen from downstream industries at the low price. The spot price is estimated to stay from a 80 yuan / tonne discount to its par value.

The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article.

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