SHFE Copper Ended Up RMB 590/mt (Sept. 30, 2015)

Sep 30, 2015 15:36

SHE 1512 copper performed well on Wednesday, partly because of rising Chinese stock market.

SHANGHAI, Sept. 30 (SMM) –SHE 1512 copper performed well on Wednesday, partly because of rising Chinese stock market. The red metal hit an intraday high of RMB 38,490/mt due to exit of shorts and entry of longs. Finally, the most active contract ended up RMB 590/mt or 1.56% at RMB 38,370/mt. Positions were up 5,992 to 236,074. Glencore’s shares surged 16.9% on Tuesday, easing market panic. Recent has seen news of production cuts and halts at overseas mines. China’s support for infrastructure projects will bode well for copper demand.

SHFE copper prices

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SHFE Copper Ended Up RMB 590/mt (Sept. 30, 2015)

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