Home / Metal News / Tin / SHFE 1508 Copper Comes under Pressure from 60-Day Moving Average (Jun. 2, 2015)
SHFE 1508 Copper Comes under Pressure from 60-Day Moving Average (Jun. 2, 2015)
Jun 2,2015 17:24CST
price review forecast
Source:SMM
The August-delivery SHFE copper dipped to a low of RMB 43,400/mt during daytime trading Tuesday.

SHANGHAI, Jun. 2 (SMM) – SHFE 1508 copper contract prices gapped lower at RMB 43,550/mt Monday night, and rose to RMB 43,820/mt after shorts closed positions. The prices then moved lower to RMB 43,500/mt and closed at RMB 43,570/mt, down RMB 240/mt.

The August-delivery SHFE copper dipped to a low of RMB 43,400/mt during daytime trading Tuesday and then gained some losses to end at RMB 43,690/mt, posting a RMB 120/mt loss. SHFE 1508 copper contract positions increased 980 and trading volumes dropped 34,178 lots. The August delivery copper contract came under great pressure from the 60-day moving average.
 

SHFE copper prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news