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SMM Brief on SHFE Copper Prices (2012-10-30)
Oct 30,2012 16:57CST
smm insight
Source:SMM
As LME copper prices fell overnight, SHFE 1302 copper contract, the most active one, started RMB 490/mt down at RMB 56,300/mt Monday.

SHANGHAI, Oct. 30 (SMM) – As LME copper prices fell overnight, SHFE 1302 copper contract, the most active one, started RMB 490/mt down at RMB 56,300/mt Tuesday. Following the opening, the contract fluctuated by RMB 100/mt as longs and shorts struggled severely, with a low and high at RMB 56,170/mt and RMB 56,530/mt, respectively. SHFE 1302 copper contract settled RMB 310/mt or 0.55% lower at RMB 56,480/mt, with trading volumes and positions up 20,866 lots and 7,020 lots, respectively. With severe struggle between longs and shorts and increasing divergence at around RMB 56,000/mt, SHFE copper prices are likely to slip further to search support in the near future.
 

SHFE copper prices
SHFE trading volumes
SHFE positions

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