SMM Brief on SHFE Copper Prices (2013-10-23)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Alumina
  • Aluminium
  • Steel
  • Copper scrap
  • Copper
  • Market commentary
  • Futures movement
  • Morning comments
  • Lead
  • Evening comments
  • price
  • price forecast
  • Stainless steel
  • Nickel

SMM Brief on SHFE Copper Prices (2013-10-23)

Price Review & Forecast 04:15:18PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Copper for delivery in January on the Shanghai Futures Exchange (SHFE), the most active one, started RMB 280/mt higher at RMB 52,490/mt on Wednesday, driven by rising LME copper overnight. The red metal crept higher to RMB 52,560/mt, but wiped out gains before noon since longs closed positions and as China’s A-share lost over 1%. SHFE 1401 copper contract fell further to RMB 52,030/mt in the afternoon before ending the day at RMB 52,100/mt, down RMB 110/mt or 0.21%. Trading volumes and positions were up 63,244 lots and 5,322 lots, respectively. 

 

Key Words:  SHFE copper  

SMM Brief on SHFE Copper Prices (2013-10-23)

Price Review & Forecast 04:15:18PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Copper for delivery in January on the Shanghai Futures Exchange (SHFE), the most active one, started RMB 280/mt higher at RMB 52,490/mt on Wednesday, driven by rising LME copper overnight. The red metal crept higher to RMB 52,560/mt, but wiped out gains before noon since longs closed positions and as China’s A-share lost over 1%. SHFE 1401 copper contract fell further to RMB 52,030/mt in the afternoon before ending the day at RMB 52,100/mt, down RMB 110/mt or 0.21%. Trading volumes and positions were up 63,244 lots and 5,322 lots, respectively. 

 

Key Words:  SHFE copper