July Copper
- Thread starter Realist
- Start date
Watch it go up tommorow.
I've lost more trading copper.... Otherwise here we should go to 3.20.
DJ MARKET TALK: China Copper Futures Face More Downside M/T
0136 GMT [Dow Jones] Copper futures on Shanghai Futures Exchange sink in
response to losses in LME 3-month contract overnight; market due for correction following sharp gains, analysts say, and "copper is likely to see more losses in the medium term as it has little support from fundamentals given the high
prices now," says Yong'an Futures' Wu Jianjian. Tips domestic spot market to
remain relatively weak throughout May. Benchmark July contract down CNY2,300,
or 3.2%, at CNY68,810/ton; LME 3-month at $7,660/ton, +$1 vs PM kerb. (HWS)
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Seasonals for base and precious metals are entering a bearish period. Some type of important low in late-May or early June timeframe may occur...
0136 GMT [Dow Jones] Copper futures on Shanghai Futures Exchange sink in
response to losses in LME 3-month contract overnight; market due for correction following sharp gains, analysts say, and "copper is likely to see more losses in the medium term as it has little support from fundamentals given the high
prices now," says Yong'an Futures' Wu Jianjian. Tips domestic spot market to
remain relatively weak throughout May. Benchmark July contract down CNY2,300,
or 3.2%, at CNY68,810/ton; LME 3-month at $7,660/ton, +$1 vs PM kerb. (HWS)
-----------------------------------------------------
Seasonals for base and precious metals are entering a bearish period. Some type of important low in late-May or early June timeframe may occur...