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SMM Copper Weekly Price Review and Forecast (May 11-15, 2015)
May 11,2015 18:04CST
price review forecast
Source:SMM
China’s stock market was volatile last week. SHFE copper jumped to touch 46,400/mt last Monday, up 3.5%.

SHANGHAI, May 11 (SMM) – China’s stock market was volatile last week. SHFE copper jumped to touch 46,400/mt last Monday, up 3.5%, but mounting resistance from RMB 46,000/mt and a shift of funds into other commodities – particularly nickel – caused copper prices to pull back. Positions in SHFE copper declined significantly. SMM expects SHFE copper to move between RMB 45,000-46,200/mt this week.

Rallying copper prices curbed spot trades in China last week, narrowing premiums in Shanghai, north China, and south China. Prices in Shandong held elevated due to smelter maintenances.
 

SHFE copper
spot copper prices

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