LME Copper Sets for Gains (2016-9-2)

SHANGHAI, Sept. 2 (SMM) – Crude oil sees no improvement and US dollar has stopped rising. Attention should be on US nonfarm payroll report on Friday, which may give clues about the timing of interest rate hike.

LME copper should move at USD 4,620-4,660/mt today and SHFE 1610 copper will range between RMB 36,300-36,600/mt. Spot prices in China are expected to trade at premiums of RMB 50-100/mt.