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SMM Brief on SHFE Copper Prices (2013-2-20)
Feb 20,2013 16:10CST
smm insight
Source:SMM
SHFE 1305 copper contract, the most active one, opened RMB 90/mt down at RMB 58,800/mt Wednesday.

SHANGHAI, Feb. 20 (SMM) –SHFE 1305 copper contract, the most active one, opened RMB 90/mt down at RMB 58,800/mt Wednesday. The contract moved narrowly around the daily moving average during the day, with a fluctuating band of merely RMB 300/mt. With resistance at RMB 58,850/mt, SHFE copper prices followed LME copper to test a low at RMB 58,540/mt in the afternoon, but pared some of declines at the tail of trading, as Chinese A-shares increased. SHFE 1305 copper contract closed RMB 230/mt or 0.39% lower at RMB 58,660/mt, with trading volumes and positions down 662 lots and 842 lots, respectively. Total trading volumes on the SHFE increased by 20,102 lots, and total positions added by 5,228 lots. The most active copper contract seemed to begin shifting. SHFE copper price drops may alleviate once gaining support at RMB 58,500/mt.
 

SHFE copper prices
SHFE 1305 copper contract
SHFE copper trading
SHFE copper positions

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