SMM Brief on SHFE Copper Prices (2013-1-7)

SHANGHAI, Jan. 7 (SMM) – SHFE 1304 copper contract price opened RMB 40/mt lower at RMB 58,330/mt on Monday. The pullback in LME lead and rebound in domestic A-shares left SHFE copper in a narrow band with prices falling after touching RMB 58,450/mt. In the afternoon, SHFE copper prices dropped to RMB 58,030/mt and finally closed at RMB 58,220/mt, down RMB 150/mt or 0.26%, with trading volumes down 19,020 lots and positions increasing 5,068 lots.