[Cu Price] SMM Sees LME Copper Price to Move at $5,500-5,650 Next Week

SHANGHAI, Jul. 17 (SMM) – LME copper prices are expected to remain largely stable next week, SMM research team says.

“Although the Greek debt crisis eased, growing expectation for a Fed’s interest rate hike following Janet Yellen’s testimony will drive a rise in the dollar,” SMM analyst says, “that plus the falling crude oil prices, will leave little impetus for copper prices to rise.”

SMM thus expects LME copper to move at $5,500-5,650 per tonne and SHFE copper at 39,800-40,800 yuan per tonne. 

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