Today Copper Price Forecast (2017-11-17)

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

SMM Evening Comments (Jan 23)

SMM Morning Comments (Jan 19)

Flash: Copper spot premiums in Shanghai

SMM Evening Comments (Jan 17)

China’s imported unwrought copper reached 4.69 million mt in 2017, customs data showed.

Copper spot premiums in the Shanghai market were traded at flat to 30 yuan/mt on the morning of Friday January 12, SMM learned.

China’s copper prices will maintain an upward movement with the continuous recovery of global economy despite some current retracement.

The zinc price forecast in 2018 is raised by 8%. In 2019 the estimated price is raised by 11%.

Without more good news, SHFE Zinc is estimated to move between 24,650-25,150 yuan per tonne.