SMM Brief on SHFE Copper Prices (2013-4-26)-Shanghai Metals Market

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SMM Brief on SHFE Copper Prices (2013-4-26)

SMM Insight 07:34:22PM Apr 26, 2013 Source:SMM

SHANGHAI, Apr. 26 (SMM) – SHFE 1308 copper contract started Friday RMB 1,080/mt higher at RMB 52,060/mt. After its opening, the most active SHFE copper contract advanced to RMB 52,480/mt, but later moved lower as investors closed positions. Falling Shanghai Composite Index also weighted SHFE copper for delivery in four months to RMB 51,280/mt. Finally, SHFE copper for August delivery gained RMB 790/mt or 1.55% to close at RMB 51,770/mt. Trading volumes and positions decreased 126,000 lots and 34,220 lots, respectively. How will SHFE copper move next week depends on LME copper prices during the holiday.  
 

SMM Brief on SHFE Copper Prices (2013-4-26)

SMM Insight 07:34:22PM Apr 26, 2013 Source:SMM

SHANGHAI, Apr. 26 (SMM) – SHFE 1308 copper contract started Friday RMB 1,080/mt higher at RMB 52,060/mt. After its opening, the most active SHFE copper contract advanced to RMB 52,480/mt, but later moved lower as investors closed positions. Falling Shanghai Composite Index also weighted SHFE copper for delivery in four months to RMB 51,280/mt. Finally, SHFE copper for August delivery gained RMB 790/mt or 1.55% to close at RMB 51,770/mt. Trading volumes and positions decreased 126,000 lots and 34,220 lots, respectively. How will SHFE copper move next week depends on LME copper prices during the holiday.