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[Cu] CBI Forecast - Copper Price
SHANGHAI, June 19 (CBI China) -- In early May, the positive European and US economic data stimulated the market expectations on economic recovery, which dragged down US dollar and drove up commodity prices. However, after copper price hit the 7-month high, market players became concerned over the sustainability of the price upward trend, as the traditional low demand period approaches, driving copper price down slightly from the high level.
Currently, US dollar index declines slowed around 80, and CBI believes copper price will fluctuate in the USD 4,750-5,250/mt range in the short term.
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