Home / Metal News / ​ SHFE Copper Trades Up (April 29, 2016)

​ SHFE Copper Trades Up (April 29, 2016)

iconApr 29, 2016 16:59
Source:SMM
SHFE 1606 copper started at RMB 37,250/mt overnight and moved higher to RMB 37,520/mt.

SHANGHAI, Apr. 29 (SMM) – SHFE 1606 copper started at RMB 37,250/mt overnight and moved higher to RMB 37,520/mt before closing the session at RMB 37,420/mt, up RMB 160/mt. Positions were down 4,480.

SHFE copper opened at RMB 37,390/mt on Friday and climbed to RMB 37,750/mt in response to crude oil and ferrous metals prices, to end the day at RMB 37,620/mt, up RMB 360/mt or 0.97%. Positions were down 15,206. Positions for all SHFE copper contracts fell 5,376 to 680,000 with trading volumes at 530,000 lots.

SHFE 1607 copper started at RMB 37,440/mt and ended at RMB 37,660/mt, gaining RMB 380/mt. Positions were up 9,316.

SHFE 1606 copper may test resistance at the 5-day moving averages tonight.

 


SHFE copper price
Cu price
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news