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Home / Metal News / SMM Copper Market Daily Review (2015-4-30)

SMM Copper Market Daily Review (2015-4-30)

May 4, 2015 09:41

Source:SMM

The July-delivery SHFE copper hovered around RMB 44,000/mt last Thursday with investors leaving the market before the May Day holiday.

SHANGHAI, May 4 (SMM) – The July-delivery SHFE copper hovered around RMB 44,000/mt last Thursday with investors leaving the market before the May Day holiday. The prices increased at the tail of trading to touch RMB 44,300/mt before ending at RMB 44,240/mt, up RMB 410/mt. Positions in the most active copper contract increased 6,004 and trading volumes grew 7,014 lots.

Spot copper quoted at premiums of RMB 50-100/mt in Shanghai Thursday morning. Standard-quality copper traded at RMB 44,300-44,350/mt, and high-quality copper sold for RMB 44,340-44,400/mt. Traded prices were RMB 44,400-44,550/mt in the afternoon.

Trading activities declined significantly, and some cargo holders intended to deplete inventories on hand before the May Day holiday, and sold at discounts, pushing down spot premiums.

SHFE copper

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