SMM Research: View on Copper Price This Week

Published: Nov 20, 2017 08:35

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Last week saw a fierce struggle between bears and bulls. What the tendency of copper price during this week?

SHANGHAI, Nov.20 (SMM)－Contract 1801 of SHFE Copper dropped last week, finishing low in three out of five trading days. Up to closure on Nov.17^th. Contract 1801 of SHFE Copper finished at 52,590 yuan per tonne, with 1.25% drop from Monday to Friday by 670 yuan per tonne. Last week saw a fierce struggle between bears and bulls. What the tendency of copper price during this week?

As per SMM research to domestic insiders, with the day time closure price of 52,590 yuan per tonne on Nov.17th, 41% participants are bearish at copper price (drop over 1%), 35% participants are bullish at cooper price (rise over 1%), 13% participants thinks price will be volatile and strong (rise within 1%) and 11% participants think price will be volatile and weak (drop within 1%).

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