Home / Metal News / Aluminium / SMM Brief on SHFE Copper Prices (2013-7-25)
SMM Brief on SHFE Copper Prices (2013-7-25)
Jul 25,2013 16:25CST
price review forecast
Source:SMM
SHFE 1311 copper contract opened RMB 80/mt lower at RMB 50,320/mt on Thursday as LME copper pulled back after hitting high overnight.

SHANGHAI, Jul. 25 (SMM) – SHFE 1311 copper contract opened RMB 80/mt lower at RMB 50,320/mt on Thursday as LME copper pulled back after hitting high overnight. However, the most active contract rose after its opening as longs entered the market and as LME copper regained support at USD 7,000/mt due to falling US dollar index. SHFE copper for November delivery hit an intraday high of USD 50,560/mt at the tail of the session before closing at RMB 50,490/mt, up RMB 90/mt or 0.18%. Trading volumes decreased by 161,000 lots, but positions increased by 12,278 lots. Technical resistance remains strong, though.   


 

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