SMM Brief on SHFE Copper Prices (2014-6-20)

SHANGHAI, Jun. 20 (SMM) – The most active SHFE copper contract swung by less than RMB 200/mt after starting Thursday's ngiht session higher at RMB 48,120/mt, meeting resistance at RMB 47,300/mt, and ended up RMB 190/mt at RMB 48,270/mt. During the night session, trading volumes for the most active contract stood at around 60,000 lots, and positions shed by 1,604 lotsl.

On Friday, SHFE copper prices advanced to a high of RMB 48,810/mt, and ended up RMB 680/mt, or 1.41%, at RMB 48,760/mt. Trading volumes for the most active contract expanded by 61,534 lots, and positions contracted by 17,166 lots. Trading volumes for the SHFE 1409 copper contract increased by 85,596 lots, and positons shrunk by 17,288 lots.