View full page at metalsmine.com

 

SMM Morning Comments - Price Review & Forecast

From news.metal.com

Copper: The robust greenback continued to weigh on copper prices overnight. Three-month LME copper inched up 0.08% to close at $5,688/mt on Wednesday. The most active SHFE 1912 contract fell to a new one-month low of 46,500 yuan/mt overnight, before it closed down 0.15% at 46,600 yuan/mt. Brexit and trade uncertainty continues to dampen the outlook for the world economy, and an increase in US crude inventories grew concerns about demand. Those developments are bearish for copper prices, and the fresh round of US-China trade talks will drive the copper market direction in the near term. Copper prices are likely to ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis