SHFE Copper Ended Up RMB 590/mt (Sept. 30, 2015)-Shanghai Metals Market

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

Price Review & Forecast 03:36:32PM Sep 30, 2015 Source:SMM

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. 

Key Words:  SHFE copper prices 

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

Price Review & Forecast 03:36:32PM Sep 30, 2015 Source:SMM

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. 

Key Words:  SHFE copper prices