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SMM Morning Comments (Jun 12)

From news.metal.com

Copper: Three-month LME copper came off from earlier highs to finish Tuesday 0.24% higher at $5,891/mt, while the most traded SHFE August contract pared earlier gains to end the overnight session lower at 46,650 yuan/mt. A sharp increase in US crude inventories eroded the traction in copper prices. LME copper is expected to trade between $5,850-5,890/mt today, with its SHFE counterpart at 46,300-46,800 yuan/mt. Spot premiums are seen firmer at 60-120 yuan/mt as prices of futures dipped. Aluminum: Three-month LME aluminium climbed to an intraday high of $1,797.5/mt on Tuesday before it lost most of those gains to ... (full story)

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  • Category: Fundamental Analysis