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SMM Copper Market Morning Review (2014-10-20)
Oct 20,2014 10:00CST
price review forecast
Source:SMM
LME three-month copper rose to USD 6,650/mt at a time last Friday and finished at USD 6,629/mt, up USD 42/mt.

SHANGHAI, Oct. 20 (SMM) – LME three-month copper rose to USD 6,650/mt at a time last Friday and finished at USD 6,629/mt, up USD 42/mt.

The most active SHFE copper contract started at RMB 46,700/mt for Friday’s night session, and then stabilized before closing the session up RMB 330/mt at RMB 46,920/mt. Trading volumes of the most active contract fell to 120,000 lots, while positions fell by 3,884 lots.

SHFE 1501 copper contract may trade at RMB 46,500-47,200/mt this Monday. In China’s spot markets, copper will be offered at premiums of RMB 80-150/mt against SHFE 1411 copper contract prices.
 

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SHFE night trading

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