SMM Copper Weekly Price Review and Forecast (Apr. 20-24, 2015)

Published: Apr 21, 2015 09:29

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SHFE copper outperformed LME copper and moved widely between RMB 42,600-43,600/mt. Trading volumes soared more than 1.8 million lots.

SHANGHAI, Apr. 21 (SMM) – SHFE copper outperformed LME copper and moved widely between RMB 42,600-43,600/mt. Trading volumes soared more than 1.8 million lots, and positions tumbled 35,000 before the weekend.

Downstream buyers began purchasing when copper prices fell to RMB 43,000/mt last week, helping improve spot trades.

China’s stock markets will extend gains, and SHFE copper may follow LME copper up to challenge RMB 44,000/mt.

SHFE copper

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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