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SMM Brief on SHFE Copper Prices (2014-3-26)
Mar 26,2014 15:53CST
price review forecast
Source:SMM
The most active SHFE copper contract price reached a high of RMB 46,400/mt after starting higher at RMB 46,150/mt in Tuesday’s night session, helped by rising LME copper prices.

SHANGHAI, Mar. 26 (SMM) – The most active SHFE copper contract price reached a high of RMB 46,400/mt after starting higher at RMB 46,150/mt in Tuesday’s night session, helped by rising LME copper prices. The contract price closed up RMB 620/mt at RMB 46,240/mt. During the trading hours, trading volumes stood at around 340,000 lots, and positions added 9,998 lots for the most active SHFE copper contract. On Tuesday, SHFE copper prices hovered mostly between RMB 46,050-46,250/mt, touching a low of RMB 45,920/mt in the morning trading session, and finished up RMB 520/mt, or 1.14%, at RMB 46,140/mt. Trading volumes shed 126,000 lots, while positions contracted 9,888 lots for the most active SHFE copper contract. Trading volumes gained 11,810 lots, and positions rose 15,158 lots for SHFE 1407 copper contracts. SHFE copper was trapped between the 5-day and 20-day moving averages on Wednesday.
 

SHFE copper prices

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