SHFE Copper Trades Up (2016-8-11)

Published: Aug 11, 2016 17:06

Save

SHFE 1610 copper opened higher at RMB 37,790/mt last night and closed the session at RMB 37,450/mt, up RMB 100/mt.

SHANGHAI, Aug. 11 (SMM) – SHFE 1610 copper opened higher at RMB 37,790/mt last night and closed the session at RMB 37,450/mt, up RMB 100/mt. Positions fell 4,580.

On Thursday, SHFE 1610 copper fell back after touching the 20-day moving average after starting at RMB 37,490/mt. The red metal finally closed RMB 180/mt higher at RMB 37,53/mt. Positions were down 6,940. Positions of all SHFE copper contracts dropped 13,482 to 540,000 with trading volumes at 370,000 lots.

SHFE 1610 copper may test support at RMB 37,500/mt tonight with support at the 40-day moving average and falling LME copper stocks.

SHFE 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

20 hours ago

[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.

Affected by macro sentiment, MHP and high-grade nickel matte prices declined this week.

20 hours ago

21 hours ago

[SMM Analysis] The market experienced panic selling this week, and nickel prices plummeted.

21 hours ago

Data: SHFE, DCE market movement (Feb 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Feb , 2026

21 hours ago