SMM Copper Market Morning Review (2015-8-20)

Published: Aug 20, 2015 09:47

Save

LME copper prices touched a low of USD 4,976/mt and closed at USD 5,005/mt Wednesday, down by USD 15/mt.

SHANGHAI, Aug. 20 (SMM) – LME copper prices touched a low of USD 4,976/mt and closed at USD 5,005/mt Wednesday, down by USD 15/mt.

The US housing starts grew fast in July, boost confidence at house developers. However, the US dollar index fell as the minutes from FOMC meeting showed many Fed officials believed more evidence is needed before an interest rate hike.

EIA reported sharp growth in crude oil inventories, pushing down crude prices.

China’s stock market tumble and poor performance of listed companies left investors anxious.

SHFE 1510 copper contract started lower at RMB 38,480/mt for night trading Wednesday, and then drifted higher to RMB 38,690/mt before following LME copper down to RMB 38,330/mt. The most active contract ended the session at 38,610/mt, up RMB 150/mt. Positions increased 936, and trading volumes were around 197,000 lots.

SHFE 1510 copper contract may trade at RMB 38,300-38,800/mt on August 20. Spot copper will be quoted between a discount of RMB 10/mt and a premium of RMB 40/mt to SHFE 1509 copper contract.

LME copper prices SHFE copper prices Cu price

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

18 hours ago

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Lead prices were in the doldrums, while secondary lead smelters maintained firm offers due to losses. The mainstream spot order ex-factory prices including tax narrowed the discount to the SMM #1 lead average price by 100 yuan/mt, shifting to a premium of 0–25 yuan/mt, with some smelters halting offers and sales.

18 hours ago

"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"

Pre-holiday stockpiling by downstream enterprises had largely concluded, and a few had already entered the holiday period, completely suspending procurement. Next week, secondary lead smelters will enter a concentrated wave of production halts and holidays, resulting in sluggish trading activity in the spot market. Offers for spot refined lead orders were sparse, with prices moving in line with the market.

18 hours ago

Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt

The domestic secondary crude lead market experienced sluggish transactions. As of February 6, 2026, the ex-factory tax-exclusive offers for domestic secondary crude lead stood at 15,250-15,400 yuan/mt. Downstream refined lead and alloy smelters gradually entered the holiday period, showing weak stockpiling willingness. Overseas lead ingot suppliers basically halted transactions with China due to poor consumption in the Chinese market, with only some previously concluded shipments maintaining normal in-transit transportation. The trading atmosphere in the secondary crude lead market will continue to weaken next week.

18 hours ago