SHFE Copper Prices Up 2.06% (2016-11-21)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Market commentary
  • Aluminium
  • Futures movement
  • Copper
  • Inventory data
  • Lead
  • Evening comments
  • Macroeconomics
  • MMi Iron Ore Port Index
  • Li-Ion Battery Cathode Material
  • Morning comments
  • Customs data
  • Silicon
  • Nickel

SHFE Copper Prices Up 2.06% (2016-11-21)

Price Review & Forecast 06:43:12PM Nov 21, 2016 Source:SMM

SHANGHAI, Nov. 21 (SMM) – Xi Jinping delivered speech on APEC held in Peru capital Lima on November 19. Xi encouraged enterprises to expand investments abroad and supported multilateral trading system in the meeting. Commodities increased with bullish outlook. SHFE 1701 copper opened Monday’s trading at RMB 43,850/mt and then advanced to RMB 45,410/mt, thanks to positions opening by longs. During the afternoon trading, SHFE 1701 copper dropped slightly, hurt by longs taking profits, and finally closed at RMB 45,120/mt, up RMB 940/mt or 2.06%. Positions increased 9,318 to 238,000 and trading volumes rose 124,000 to 536,000 lots. Most commodities rallied from lows on Monday and SHFE 1701 copper increased sharply.

SHFE 1701 copper is expected to remain firm in Monday’s night trading.

Key Words:  SHFE copper  LME copper  copper prices 

Price

more
#1 Refined Cu
Apr.22
49450.0
20.0
(0.04%)
Yangshan Copper Premium(Bill of Lading)
Apr.22
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.22
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

SHFE Copper Prices Up 2.06% (2016-11-21)

Price Review & Forecast 06:43:12PM Nov 21, 2016 Source:SMM

SHANGHAI, Nov. 21 (SMM) – Xi Jinping delivered speech on APEC held in Peru capital Lima on November 19. Xi encouraged enterprises to expand investments abroad and supported multilateral trading system in the meeting. Commodities increased with bullish outlook. SHFE 1701 copper opened Monday’s trading at RMB 43,850/mt and then advanced to RMB 45,410/mt, thanks to positions opening by longs. During the afternoon trading, SHFE 1701 copper dropped slightly, hurt by longs taking profits, and finally closed at RMB 45,120/mt, up RMB 940/mt or 2.06%. Positions increased 9,318 to 238,000 and trading volumes rose 124,000 to 536,000 lots. Most commodities rallied from lows on Monday and SHFE 1701 copper increased sharply.

SHFE 1701 copper is expected to remain firm in Monday’s night trading.

Key Words:  SHFE copper  LME copper  copper prices