SMM Brief on SHFE Copper Prices (2014-4-18)

SHANGHAI, Apr. 18 (SMM) – The most active SHFE copper contract price dipped during Thursday’s night session to RMB 46,450/mt, and finished up RMB 30/mt at RMB 46,600/mt. Traded volumes stood at around 90,000 lots, while positions gained 7,548 lots. SHFE copper prices fell Friday back to a low of RMB 46,240/mt, and closed down RMB 210/mt, or 0.45%, at RMB 47,360/mt. Traded volumes shed 58,440 lots, and positions gained 7,694 lots. SHFE copper prices have found support at the 20-day moving average.