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SMM Brief on SHFE Copper Prices (2014-4-4)
Apr 4,2014 16:26CST
price review forecast
Source:SMM
The most active SHFE copper prices hovered between RMB 46,200-46,500/mt after starting at RMB 46,430/mt and ended down RMB 30/mt at RMB 46,380/mt during Thursday’s night session.

SHANGHAI, Apr. 4 (SMM) – The most active SHFE copper prices hovered between RMB 46,200-46,500/mt after starting at RMB 46,430/mt and ended down RMB 30/mt at RMB 46,380/mt during Thursday’s night session. Traded volumes fell slightly to around 150,000 lots, while positions were basically unchanged. On Friday, SHFE copper prices gradually leveled off after starting and later continued to bounce back, helped by a rebound in the Shanghai Composite during the afternoon trading session. The red metal tested a high of RMB 46,760/mt at the tail of the trading, and finished Friday up RMB 280/mt, or 0.6%, at RMB 46,690/mt. Traded volumes fell by 159,000 lots, and positions contracted by 13,774 lots for the most active SHFE copper contract. SHFE copper prices have climbed above the 5-day moving average on Friday, with a sign of risk aversion before the Tomb Sweeping Day holiday.
 

SHFE copper prices

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