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SMM Brief on SHFE Copper Prices (2014-4-15)
Apr 15,2014 16:28CST
price review forecast
Source:SMM
The most active SHFE copper contract price swung by less than RMB 200/mt after starting at RMB 46,790/mt, meeting resistance at RMB 46,840/mt, and ended up RMB 40/mt at RMB 46,730/mt.

SHANGHAI, Apr. 15 (SMM) – The most active SHFE copper contract price swung by less than RMB 200/mt after starting Monday’s night session at RMB 46,790/mt, meeting resistance at RMB 46,840/mt, and ended up RMB 40/mt at RMB 46,730/mt. Traded volumes fell to around 160,000 lots, while positions rose by 2,050 lots, with slower trading activity. SHFE copper prices rallied Tuesday to 47,800/mt, boosted by the SHFE current-month copper contract price, but later followed LME copper prices down to RMB 46,300/mt. The red metal hovered narrowly below RMB 46,500/mt during the afternoon trading hours, and finished down RMB 130/mt, or 0.28%, at RMB 46,560/mt. Traded volumes for the most active SHFE copper contract shed 159,000 lots, and positions lost 13,236 lots. SHFE copper prices should remain range-bound for the near term with mixed technical indicators.
 

SHFE copper prices

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