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SMM Brief on SHFE Copper Prices on Apr. 24
Apr 24,2012 17:07CST
smm insight
Source:SMM
As LME copper prices continued to fall overnight, the most-traded SHFE copper contract for delivery in July opened RMB 260/mt lower at RMB 57,410/mt Tuesday.

SHANGHAI, Apr. 24 (SMM) –As LME copper prices continued to fall overnight, the most-traded SHFE copper contract for delivery in July opened RMB 260/mt lower at RMB 57,410/mt Tuesday. Chinese stock markets tested support at the 5-day moving average during the day. SHFE copper prices lurched around RMB 57,500/mt, testing a low at RMB 57,200/mt and reaching a high at RMB 57,840/mt. SHFE 1207 copper contract prices finally ended RMB 70/mt or 0.12% lower at RMB 57,600/mt, with trading volumes increasing by 32,418 lots but positions decreasing by 35,398 lots. Positions for SHFE 1208 copper contract were up by 11,558 lots. Long and short investors struggled at levels around RMB 57,500/mt.
 

SHFE copper prices

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