SHFE Copper Finishes with Losses (2017-2-24)

Published: Feb 24, 2017 18:25

Save

SHFE 1704 copper started at RMB 47,210/mt and closed at RMB 47,760/mt, down 810/mt or 1.67%.

SHANGHAI, Feb. 24 (SMM) – On Friday, SHFE 1704 copper started at RMB 47,210/mt and htne climbed to the moving average. The contract closed at RMB 47,760/mt, down 810/mt or 1.67%. Positions were down 17,326 to 201,000 and trading volumes were up 123,000 to 410,000 lots. Positions of all SHFE copper contracts fell 12,858 to 528,000 with trading volumes up 213,000 to 644,000 lots. SHFE 1704 copper staged technical correction on Friday after rapid decline on Thursday’s night trading.

SHFE 1704 copper will stabilize in a short term, or increase further with positions closing by shorts. Attention should be on US’s January new home sales and February Michigan consumer sentiment index on Friday night.

SHFE copper LME copper 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

7 hours ago

BC Copper Fluctuated and Closed Slightly Lower, Macro Sentiment Awaited the CPI Release [SMM BC Copper Commentary]

7 hours ago

8 hours ago

Data: SHFE, DCE market movement (Mar 11)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 11 Mar , 2026

8 hours ago

9 hours ago

Zambia Seeks Global Investors to Triple Copper Output by 2031 Amid US-China Rivalry

Zambia is courting global investors, including from the United States, as it aims to more than triple its copper output to 3 million metric tons by 2031, its mines minister said on Tuesday.Africa’s second-largest copper producer after Democratic Republic of Congo is seen as one of the countries Washington is keen to partner with as the US escalates efforts to loosen China’s grip on materials crucial to advanced manufacturing.

9 hours ago