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SMM Morning Comments - Price Review & Forecast

From news.metal.com

Copper: Copper prices jumped on Friday night, bolstered by robust US jobs data and deeper OPEC production cuts. Improved demand for riskier assets sent US gold futures below $1,470/oz. Three-month LME copper rose to its highest since July 30 at $6,027/mt, before it finished the trading day 2.2% higher at $6,025/mt. The most active SHFE 2001 contract advanced 1.4% in the Friday night trading session to close at 47,940 yuan/mt. Positive fundamentals will remain supportive of copper prices, which see upside potential hampered by global trade uncertainty. With stocks at SHFE warehouses declining to 112,700 mt last week, ... (full story)

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  • Category: Fundamental Analysis