SMM Brief on SHFE Copper Prices (2014-4-30)

SHANGHAI, Apr. 30 (SMM) – The most active SHFE copper contract fell slightly after starting Tuesday’s night session at RMB 47,700/mt, and continued to swing by less than RMB 100/mt. The contract subsequently tested a low of RMB 47,580/mt, and finished the night session down RMB 180/mt at RMB 47,630/mt. Traded volumes held steady at 60,000 lots, while positions gained 2,876 lots. During the last trading day ahead of the May Day holiday, SHFE copper prices hovered mostly around RMB 47,600/mt before the midday, failing to rise above the RMB 47,700/mt mark. The red metal dipped to a low of RMB 47,490/mt in the afternoon trading session, but regained some losses at the tail of the trading to end down RMB 160/mt, or 0.33%, at RMB 47,650/mt. Traded volumes and positions for the most active SHFE copper contract lost 99,662 lots and 8,538 lots, respectively.