SMM Copper Market Morning Review (2015-7-17)

Published: Jul 17, 2015 09:14

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LME copper price remained largely stable Thursday and closed at USD 5,545/mt.

SHANGHAI, Jul. 17 (SMM) – LME copper price remained largely stable Thursday and closed at USD 5,545/mt.

The US dollar index increased, but Greek parliament approved a strict austerity measure and secured EUR 7 billion of aids, easing market concerns.

SHFE 1509 copper contract opened at RMB 40,430/mt for night trading Thursday and moved between RMB 40,360-40,560/mt before finishing the session up RMB 50/mt at RMB 40,480/mt. Positions grew 384and trading volumes were about 136,000 lots.

In other news, China’s copper output was reported at a six-month high in June.

SHFE 1509 copper contract prices are expected to move at RMB 40,100-40,800/mt on July 17. Spot copper will be offered at premiums of RMB 180-250/mt to SHFE 1508 copper contract.

LME copper prices SHFE copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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