LME Copper to Face Downward Pressure

LME Copper SHANGHAI, Oct. 13 (SMM) – LME copper is expected to move at USD 4,795-4,835/mt and SHFE 1612 copper will range between RMB 37,850-38,050/mt.   US dollar keeps firm. LME copper is expected to remain downward momentum on Thursday and move at USD 4,795-4,835/mt. SHFE 1612 copper will test support at the 5-day moving average on Thursday and range between RMB 37,850-38,050/mt.   In China’s domestic market, spot premiums should decline to RMB 80-150/mt on Thursday.

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