SHFE Copper Closes RMB 720/mt Higher (Aug. 28, 2015)

Published: Aug 28, 2015 18:41

Save

SHFE 1511 copper contract opened higher at RMB 38,780/mt Thursday night, and hit a high of RMB 39,690/mt.

SHANGHAI, Aug. 28 (SMM) – SHFE 1511 copper contract opened higher at RMB 38,780/mt Thursday night, and hit a high of RMB 39,690/mt, to finish up RMB 840/mt at RMB 39,400/mt. Positions increased 6,564, and trading volumes were around 175,000 lots.

SHFE copper retreated Thursday night’s gains on Friday and found solid support at RMB 39,100/mt before ending at RMB 39,280/mt, up RMB 720/mt or 1.87%. Positions of SHFE 1511 copper increased 9,244 and trading volumes were up 46,050 lots. Trading volumes of copper futures jumped 54,116 lots while positions declined 9,344.

SHFE copper prices 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.

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

3 hours ago

Cost Side of the Enamelled Wire Industry Under Pressure

According to SMM, the cost side of the enamelled wire industry has remained under pressure recently. Driven by rising crude oil prices, insulating varnish prices increased by more than 20%, leaving enamelled wire enterprises facing a sharp rise in raw material costs that was difficult to pass on to downstream customers, further squeezing profit margins.

3 hours ago

Weakening Home Appliance Demand Weighed on Both Orders and Operating Rates

This week (March 20–March 26), the operating rate of machines in China’s enamelled wire industry pulled back 0.2 percentage points MoM to 88.73%. Affected by weakening home appliance demand and fluctuations in copper prices, new orders this week pulled back 11.19 percentage points MoM, downstream pick-up of goods slowed down, finished product inventories edged up to 7.47 days, and enterprises were generally concerned about the order outlook for April.

3 hours ago

4 hours ago

The Most-Traded SHFE Tin Contract Rebounded in Volatile Trading After Opening Sharply Lower in the Night Session, While Trading in the Spot Market Remained Relatively Sluggish [SMM Tin Morning Brief]

[SMM Tin Morning Briefing: The Most-Traded SHFE Tin Contract Opened Sharply Lower in the Night Session and Then Rebounded in Volatile Trading, While Trading in the Spot Market Remained Subdued]

4 hours ago