Copper market cautiously optimistic for November: Meir

Copper prices are projected to range from $6,000-6,500 per tonne in November, according to INTL FCStone analyst Edward Meir.

The London Metal Exchange's three-month copper contract closed at at $6,189 per tonne on Tuesday November 6, up marginally from $6,188 per tonne on October 5. “Low levels of stocks seen on both the [London Metal Exchange] and Chinese exchanges, coupled with strong physical premiums, should provide support, as will market perceptions that Chinese authorities will continue to ramp up spending in order to stave off further weakness,” Meir wrote in a November market report. LME copper stocks stood at...

Published

November 07, 2018

02:32 GMT

Chicago