SHANGHAI, Apr. 14 (SMM) – The Shanghai Composite Index finished last week above 4,000. The rallying stock prices prompted many investors to jump into stock markets, and the resulting decline in trading activities in futures market left SHFE copper at RMB 43,000-43,800/mt. Besides, the Tomb Sweeping Day holiday also caused trading volumes to decrease 1.86 million lots. Positions increased early in the week but shrank later, with a weekly growth of less than 10,000. Transactions during night sessions declined.
SHFE copper prices are likely to stay in the current range of RMB 42,800-44,000/mt this week.
In China’s copper market, cargo holders held goods back last week, pushing up spot premiums. The price spread between different brands narrowed.