|  | 17/08/2004 |
|
LME Copper Price in $2,550-2,865, Mitsubishi Corp.
Mitsubishi Corporation and Mitsubishi Shoji Light Metal Sales Corporation announced copper and zinc price forecast at London Metal Exchange in a month. The estimate said LME 3-mnth future copper price is $2,50-2,865 per tonne led by charts through the middle of September and zinc future is $960-1,040.
LME copper price could become $2,650 per tonne temporally when the price has been under 100-day moving average since August 9. The price could even decrease to under next resistance line of $2,500-2,555. However, fund speculative money could buy again when the price would remain over $2,650.
Market players are not likely to change long or short positions significantly for LME zinc price during summer vacation in Japan, US and Europe. The price is likely to stay in limited range. The price is likely to remain from $960 per tonne, at which market turned into strong buy when the price decreased in June, to $1,040, at which the price peaked out in May and July.
 |
 | LME Copper Price in $2,550-2,865, Mitsubishi Corp.
| | Operating rate of aluminum rolling product increases by 3.7 points to 93.4%
| | Sumitomo Electric Industries Begins the Visual Conversation Service Industry Using the Internet
|
|
|
 |
