SMM Copper Market Morning Review (2015-5-5)

Published: May 5, 2015 10:13

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SHFE 1507 copper contract prices started at RMB 45,830/mt Monday night and soon climbed to RMB 45,930/mt but met resistance at the level.

SHANGHAI, May 5 (SMM) – LME closed on May 4 for the bank holiday. SHFE 1507 copper contract prices started at RMB 45,830/mt Monday night and soon climbed to RMB 45,930/mt but met resistance at the level. The prices then pulled back to RMB 45,650/mt and hovered near RMB 45,780/mt before ending at RMB 45,730/mt, up RMB 260/mt, or 0.57%.

SHFE 1507 copper contract is expected to trade at RMB 45,500-46,000/mt on May 5. Spot copper may be offered at premiums of RMB 20-100/mt to SHFE 1505 copper contract in Shanghai.

SHFE copper

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