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Copper prices to remain rangebound at high levels
Apr 15,2021 13:27CST
smm insight
Source:SMM
At the economic work conference (Two Sessions), China emphasised the "stability" of macroeconomic policies and the strengthening of regulations of raw materials markets to ease the cost pressure of enterprises. That depressed market bullishness. US President Biden officially announced a package of over $2 trillion in infrastructure and economic stimulus, aiming at optimising the development of infrastructure, manufacturing and the Internet. US Treasury yields are expected to surge to high levels amid economic recovery in the US from the COVID-19. The US dollar index is expected to remain in an upward track. Copper prices are expected to meet strong resistance from 68,000 yuan/mt.
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