SHFE Copper Ended Down RMB 960/mt as Pessimism Prevails (Sept. 29, 2015)-Shanghai Metals Market

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SHFE Copper Ended Down RMB 960/mt as Pessimism Prevails (Sept. 29, 2015)

Price Review & Forecast 05:40:42PM Sep 29, 2015 Source:SMM

SHANGHAI, Sept. 29 (SMM) – Market pessimism spread on Tuesday. Chinese stock market slumped after a low opening. SHE 1512 copper lost support at the daily moving average and took a freefall to RMB 37,550/mt. Finally, the most active contract ended down RMB 960/mt or 2.49% at RMB 37,640/mt. Positions were up 24,398, and trading volumes were up 140,000 lots. Worries over Chinese economy, slump in Glencore’s shares and US Fed’s hawkish stance all combined to drive copper prices down.   





Key Words:  SHFE copper prices 

SHFE Copper Ended Down RMB 960/mt as Pessimism Prevails (Sept. 29, 2015)

Price Review & Forecast 05:40:42PM Sep 29, 2015 Source:SMM

SHANGHAI, Sept. 29 (SMM) – Market pessimism spread on Tuesday. Chinese stock market slumped after a low opening. SHE 1512 copper lost support at the daily moving average and took a freefall to RMB 37,550/mt. Finally, the most active contract ended down RMB 960/mt or 2.49% at RMB 37,640/mt. Positions were up 24,398, and trading volumes were up 140,000 lots. Worries over Chinese economy, slump in Glencore’s shares and US Fed’s hawkish stance all combined to drive copper prices down.   





Key Words:  SHFE copper prices