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SMM Brief on SHFE Copper Prices (2013-11-7)
Nov 7,2013 16:07CST
price review forecast
Source:SMM
Copper for delivery in January on the Shanghai Futures Exchange (SHFE), the most active one, opened RMB 170/mt lower at RMB 51,350/mt on Thursday.

SHANGHAI, Nov. 7 (SMM) – Copper for delivery in January on the Shanghai Futures Exchange (SHFE), the most active one, opened RMB 170/mt lower at RMB 51,350/mt on Thursday. The red metal drifted lower to RMB 51,250/mt before following LME copper up above the daily moving average, but still met resistance at RMB 51,530/mt. SHFE 1401 copper contract shed RMB 30/mt or 0.06% to close at RMB 51,490/mt. Trading volumes and positions plunged by 38,652 lots and 5,518 lots, respectively.

 

SHFE copper

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