SHFE Copper Closes Higher (Mar. 10, 2016)

Published: Mar 10, 2016 17:17

Save

SHFE 1605 copper started at RMB 37,440/mt overnight.

SHANGHAI, Mar. 10 (SMM) – SHFE 1605 copper started at RMB 37,440/mt overnight and sank to RMB 37,250/mt after meeting resistance at the 5-day moving average. The red metal later bounced back to RMB 37,670/mt in response to crude oil prices and LME copper and ended at RMB 37,420/mt, gaining RMB 230/mt.

SHFE copper opened at RMB 37,420/mt on Thursday and closed the day up RMB 110/mt or 0.30%at RMB 37,300. Positions for all SHFE copper contracts grew 4,498 to 683,400 with trading volumes totaling 740,000 lots.

SHFE 1605 copper should fluctuate between the 5 and 10-day moving averages this evening.

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

1 min ago

Gulf Energy Crisis Threatens $12,000 Copper Price Floor

Gulf energy crisis from Iran conflict could undermine copper’s $12,000 per tonne floor as inflation and real yields rise, pressuring bullish positioning.

1 min ago

16 hours ago

Shuikoushan Nonferrous Metals Launches New Automatic Filter Press, Solves Long-standing Sludge Issue

Good news comes from the lead smelter of Shuikoushan Nonferrous Metals Co., Ltd. The new automatic filter press device, independently developed and designed by the enterprise, has been successfully put into operation, solving the sludge treatment problem that has plagued them for years.

16 hours ago

SMM expected the operating rate of China’s copper anode enterprises would rise to 51.78% in March

[SMM Copper Anode] SMM expected that in March 2026, the overall operating rate of China’s copper anode enterprises would rise 13.68 percentage points MoM to 51.78%, of which the operating rate of ore-derived copper anode enterprises was expected to rise 2.84 percentage points MoM to 74.35%; the operating rate of copper anode producers using scrap was expected to rise 18.73 percentage points MoM to 41.25%. (Refers only to the non-captive portion of copper anodes)

16 hours ago