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SMM Brief on SHFE Copper Prices (2013-7-22)
Jul 22,2013 17:25CST
price review forecast
Source:SMM
SHFE 1311 copper contract opened RMB 160/mt higher at RMB 50,100/mt on Monday.

SHANGHAI, Jul. 22 (SMM) – SHFE 1311 copper contract opened RMB 160/mt higher at RMB 50,100/mt on Monday. The most active contract hovered near the daily moving average as longs and shorts mostly closed positions, with the low-end price at RMB 49,900/mt. SHFE copper for November delivery rose in the afternoon, but met resistance at RMB 50,400/mt. Finally, the most actively traded SHFE copper contract closed at RMB 50,350/mt, up RMB 410/mt or 0.82%. Trading volumes shrank by 47,366 lots and positions decreased by 17,208 lots.


 

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