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SMM Brief on SHFE Copper Prices on Dec. 16
Dec 17,2011 10:43CST
smm insight
Source:SMM
As LME copper prices stopped falling overnight, SHFE 1203 copper contract prices opened slightly up by RMB 290/mt at RMB 53,510/mt Friday.

SHANGHAI, Dec. 17 (SMM) –As LME copper prices stopped falling overnight, SHFE 1203 copper contract prices opened slightly up by RMB 290/mt at RMB 53,510/mt Friday. SHFE three-month copper contract prices fluctuated around RMB 53,500/mt in the morning business. Near the midday, as LME copper prices rose above USD 7,300/mt, and since Chinese stock markets closed up by more than 1%, SHFE three-month copper contract prices advanced. Finally, SHFE 1203 copper contract prices closed at a recent intraday high of RMB 54,300/mt, up RMB 1,080/mt, or a gain of 2.03%. Positions for SHFE 1203 copper contracts were up 17,526 lots, and trading volumes were up 8,880 lots. SHFE copper prices stopped falling during the whole trading day, and were awaiting guidance from US and European markets and domestic stock markets in the coming week, with the low-end prices rising slightly.
 

SMM brief;SHFE copper prices

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