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EventsConsultingHome / Metal News / Aluminium / SHFE 1507 Copper Comes under Pressure on Falling Chinese Stocks and LME Copper (May 5, 2015)
SHFE 1507 Copper Comes under Pressure on Falling Chinese Stocks and LME Copper (May 5, 2015)
May 5,2015 18:17
CSTprice review forecast
Source:SMM
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) – 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%.
The July delivery SHFE copper touched a low of RMB 45,550/mt during daytime trading Tuesday, due to falling Chinese stocks, lower LME copper and longs closing positions. The red metal ended at RMB 45,730/mt. Trading volumes of the most active copper contract fell by 33,940 lots and positions dropped 17,356.
SHFE copper
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