Metals News
SMM Brief on SHFE Copper Prices (2013-6-21)
price review forecast
07:26PM
Jun 21,2013
Source:SMM

SHANGHAI, Jun. 21 (SMM) – Falling LME copper caused SHFE 1310 copper contract to open RMB 960/mt lower at RMB 48,960/mt on Friday. After its opening, the most active SHFE copper contract plunged to RMB 48,390/mt on sell-off, but then rebounded to near RMB 49,500/mt on long buying, with resistance at RMB 49,700/mt. Finally, SHFE copper for October delivery ended the day down RMB 270/mt or 0.54% at RMB 49,650/mt, with trading volumes up 250,000 lots and positions up 6,852 lots. The most active SHFE copper contract is still under downward track after hitting the lowest in 20 months. 

 

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