SMM Brief on SHFE Copper Prices (2013-10-28)

Price Review & Forecast 05:15:01PM Oct 28, 2013 Source:SMM

SHANGHAI, Oct. 28 (SMM) – Copper for delivery in January on the Shanghai Futures Exchange (SHFE), the most active one, started RMB 10/mt higher at RMB 51,420/mt on Monday. The red metal followed LME copper up, but met resistance at RMB 51,650/mt. SHFE 1401 copper contract hovered near RMB 51,500/mt later in the day before closing RMB 100/mt or 0.19% higher at RMB 51,510/mt. Trading volumes and positions were off 102,000 lots and 7,064 lots, respectively. Further price declines are expected for the red metal.   

 

Key Words:  SHFE copper  

SMM Brief on SHFE Copper Prices (2013-10-28)

Price Review & Forecast 05:15:01PM Oct 28, 2013 Source:SMM

SHANGHAI, Oct. 28 (SMM) – Copper for delivery in January on the Shanghai Futures Exchange (SHFE), the most active one, started RMB 10/mt higher at RMB 51,420/mt on Monday. The red metal followed LME copper up, but met resistance at RMB 51,650/mt. SHFE 1401 copper contract hovered near RMB 51,500/mt later in the day before closing RMB 100/mt or 0.19% higher at RMB 51,510/mt. Trading volumes and positions were off 102,000 lots and 7,064 lots, respectively. Further price declines are expected for the red metal.   

 

Key Words:  SHFE copper