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SMM Brief on SHFE Copper Prices on Mar. 5
Mar 5,2012 15:56CST
smm insight
Source:SMM
SHFE 1205 copper contract prices opened RMB 20/mt up at RMB 61,160/mt and closed at RMB 61,010/m Monday.

SHANGHAI, Mar. 5 (SMM) –SHFE 1205 copper contract prices opened RMB 20/mt up at RMB 61,160/mt Monday. As LME copper prices slid all the way and lost USD 8,600/mt during the whole trading day, SHFE copper prices moved lower and fell below RMB 61,000/mt in the afternoon session, down to RMB 60,880/mt. Finally, SHFE 1205 copper contract prices closed at RMB 61,010/mt, down RMB 130/mt or 0.21%. With an intraday high and low at RMB 61,720/mt and RMB 61,050/mt, respectively, SHFE 1206 copper contract prices finally ended at RMB 61,190/mt, down RMB 180/mt or 0.29%. Positions and trading volumes for SHFE 1205 copper contract were down 16,700 lots and 125,000 lots, respectively, while positions and trading volumes for SHFE 1206 copper contract were up 8,074 lots and 21,574 lots, respectively, suggesting the completion of the most actively-traded copper contract. SHFE copper prices are supported at the 5-day moving average of RMB 60,900/mt, and will continue to fluctuate for the near term. 



 

SHFE copper prices

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