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SMM Brief on SHFE Copper Prices (2014-4-21)
Apr 21,2014 17:36CST
price review forecast
Source:SMM
With the lack of guidance from LME copper prices, SHFE copper prices started last Friday’s night session at RMB 46,330/mt, and then rose to a high of RMB 46,410/mt.

SHANGHAI, Apr. 21 (SMM) – With the lack of guidance from LME copper prices, SHFE copper prices started last Friday’s night session at RMB 46,330/mt, and then rose to a high of RMB 46,410/mt. The red metal dipped as low as RMB 46,190/mt and finished down RMB 90/mt at RMB 46,360/mt. Traded volumes stood at around 70,000 lots, while positions were barely changed. As trading remained suspended Monday on the London Metal Exchange, SHFE copper prices recouped early losses to touch a high of RMB 46,830/mt, and closed up RMB 170/mt, or 0.37%, at RMB 46,620 /mt. Traded volumes shed by 47,872 lots, while positions lost by 5,288 lots. SHFE copper prices have found solid support at the 20-day moving average on Monday and are expected to trend higher Tuesday after LME copper prices resume trading.

SHFE copper prices

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