Metals News
SMM Copper Market Morning Review (2015-8-24)
price review forecast
Aug 24,2015

SHANGHAI, Aug. 24 (SMM) – LME copper tested a low of USD 4,992/mt and ended at USD 5,063/mt last Friday. Shanghai copper will come under selling pressure with the SHFE/LME copper price ratio expanding.

Chinese shares continued to fall last Friday. US stock prices slumped, with the Dow and S&P 500 posting more than 5.8% of falls, the biggest declines since September 2011. Nasdaq plummeted 6.8%.

The Caixin China manufacturing PMI was reported at its lowest since March 2009 during August, fueling concern over the country’s demand.

New York crude oil prices fell below USD 40/mt for the first time since 2009, to USD 39.82/bbl. The US dollar index dropped to only 95, but this failed to lend any support to copper prices.

SHFE 1510 copper contract started at RMB 38,810/mt for night trading last Friday, and fell back to RMB 38,630/mt after rising to RMB 38,950/mt. The most active copper contract closed at RMB 38,830/mt. Positions declined 3,132, and trading volumes were around 145,000 lots.

SHFE 1510 copper contract may trade at RMB 38,600-39,000/mt on August 24. Spot copper will be quoted at discounts of RMB 0-50/mt to SHFE 1509 copper contract.

LME copper prices
SHFE copper prices
Cu price
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data