Home / Metal News / Nickel / SMM Brief on SHFE Copper Prices (2013-3-22)
SMM Brief on SHFE Copper Prices (2013-3-22)
Mar 22,2013 15:45CST
smm insight
Source:SMM
With LME copper falling back from high levels overnight, SHFE 1307 copper contract prices opened RMB 450/mt lower at RMB 55,580/mt on Friday.

SHANGHAI, Mar. 22 (SMM) – With LME copper falling back from high levels overnight, SHFE 1307 copper contract prices opened RMB 450/mt lower at RMB 55,580/mt on Friday. After the opening, the most active SHFE copper contract rose, but failed to break through RMB 55,940/mt due to a lack of buying. The contract sank below the daily moving average during the second trading session, and hit a low of RMB 55,460/mt in the afternoon as shorts entered the market. Finally, SHFE 1307 copper contract ended the day down RMB 400/mt or 0.71% at RMB 55,630/mt. Trading volumes decreased 219,000 lots, while positions increased 1,572 lots. 

 

latest SHFE copper prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn