Home / Metal News / Copper / SMM Brief on SHFE Copper Prices on Dec. 13
SMM Brief on SHFE Copper Prices on Dec. 13
Dec 13,2011 16:09CST
smm insight
Source:SMM
As LME copper prices extended losses overnight, SHFE 1202 copper contract prices, the most active one, opened RMB 710/mt lower at RMB 56,260/mt Tuesday.

SHANGHAI, Dec. 13 (SMM) –As LME copper prices extended losses overnight, SHFE 1202 copper contract prices, the most active one, opened RMB 710/mt lower at RMB 56,260/mt Tuesday. SHFE three-month copper contract prices posted weak performance and fluctuated around the daily moving average of RMB 56,100/mt during the whole trading day, as the Shanghai Composite Index continued to close down by nearly 2%, with an intraday high at only RMB 56,360/mt. Finally, SHFE 1202 copper contract prices closed at RMB 56,120/mt, down RMB 850/mt or a loss of 1.49%. Positions for SHFE 1202 copper contracts were down 11,518 lots, and trading volumes were down 95,916 lots, highlighting the shift of the most actively-traded copper contracts. As market activity was light, copper prices are facing growing risks to fall further after falling below all moving averages.    
 

SMM brief;SHFE copper prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn