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SMM Brief on SHFE Copper Prices (2012-10-15)
Oct 15,2012 16:53CST
smm insight
Source:SMM
As LME copper prices plunged last Friday, SHFE 1301 copper contract, the most active one, started RMB 900/mt down at RMB 58,230/mt Monday.

SHANGHAI, Oct. 15 (SMM) – As LME copper prices plunged last Friday, SHFE 1301 copper contract, the most active one, started RMB 900/mt down at RMB 58,230/mt Monday. Following the opening, China announced its CPI and PPI continued falling and restricted LME copper price trend. As Chinese A-shares slipped, SHFE copper prices mainly moved between RMB 58,400-58,600/mt, dipping to a low at RMB 58,230/mt early in the session and touching a high at RMB 58,610/mt. SHFE 1301 copper contract settled RMB 580/mt or 0.98% lower at RMB 58,550/mt, with trading volumes and positions down by 50,532 lots and 296 lots, respectively. Total trading volumes on the SHFE market fell by 43,334 lots, but total positions added by 2,542 lots. There were noticeable signs of increases in positions for forward SHFE copper contracts, and longs and shorts still struggled at RMB 58,500/mt.  

 

SHFE copper prices
SHFE trading volumes
SHFE positions

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