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Home / Metal News / SHFE Copper Gains 0.89% (May 12, 2016)

SHFE Copper Gains 0.89% (May 12, 2016)

May 12, 2016 16:41

Source:SMM

SHFE 1607 copper started at RMB 36,080/mt overnight and closed the session at RMB 35,910/mt, down RMB 10/mt.

SHANGHAI, May 12 (SMM) – SHFE 1607 copper started at RMB 36,080/mt overnight and closed the session at RMB 35,910/mt, down RMB 10/mt. Positions were up 3,802.

SHFE 1607 copper opened higher at RMB 35,930/mt on Thursday and dived to RMB 35,840/mt. The red metal later advanced to RMB 36,520/mt due to gains in crude oil prices and ended at RMB 36,240/mt, up RMB 320/mt or 0.89%. Positions were down 13,468. Positions for all SHFE copper contracts were down 13,650 to 750,000 with trading volumes at 690,000 lots.

SHFE 1607 copper may test support at RMB 36,000/mt tonight.

SHFE copper price

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31% Chinese copper smelters see LME copper to fall below USD 4,550/mt this week and SHFE 1607 lead to drop below RMB 35,000/mt.

May 24, 2016 09:42

SMM Comments

SHFE Copper Trades Lower (May 18, 2016)

SHFE 1607 copper started at RMB 35,700/mt overnight and once dived to RMB 35,480/mt. The red metal rebounded to RMB 35,940/mt before closing the session at RMB 35,780/mt.

May 18, 2016 16:45

SMM Comments

LME Copper to Stay Weak (2016-5-16)

LME copper will remain weak and range USD 4,590-4,630/mt during Asian trading hours Monday due to negative economic figures from China.

May 16, 2016 09:36

SMM Comments

LME and SHFE Copper to Look for Price Floor Next Week, SMM Expects

Copper prices will head for further declines next week, SMM foresees.

May 14, 2016 14:01

SMM Insight

LME Copper to Face Pressure (2016-5-6)

LME copper should consolidate at USD 4,740-4,800/mt during Asian trading hours Friday.

May 6, 2016 09:33

SMM Comments

LME Copper to Inch Lower (2016-5-5)

LME copper should edge down to USD 4,830-4,880/mt during Asian trading hours Thursday.

May 5, 2016 09:35

SMM Comments

SHFE Copper Registers Losses (May 4, 2016)

SHFE 1607 copper started higher at RMB 37,680/mt overnight and dived to RMB 37,190/mt before closing the session at RMB 37,290/mt.

May 4, 2016 17:02

SMM Comments

SHFE Copper Trades Up (April 29, 2016)

SHFE 1606 copper started at RMB 37,250/mt overnight and moved higher to RMB 37,520/mt.

Apr 29, 2016 16:59

SMM Comments

SHFE Copper to Bounce back (2016-4-29)

SHFE 1606 copper will bounce back to RMB 37,100-37,600/mt on Apr. 29 with strengthening of crude oil and ferrous metal prices.

Apr 29, 2016 09:45

SMM Comments

LME Copper to Test Higher (2016-4-21)

Oil price lurched higher with positive US oil data, showing a 6-week decline in output. This, combined with US’s better-than-expected existing home sales and rising equities, pushed up LME copper.

Apr 21, 2016 11:02

SMM Comments

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SHFE Copper Gains 0.89% (May 12, 2016)

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