SHFE Copper Closes with Losses (2017-6-21)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • Production data
  • Market commentary
  • Macroeconomics
  • Morning comments
  • Aluminium
  • Copper
  • Stainless steel
  • Mengtai Group
  • hydrogen stations
  • Nickel
  • Iron ore
  • trade negotiations

SHFE Copper Closes with Losses (2017-6-21)

Price Review & Forecast 06:04:06PM Jun 21, 2017 Source:SMM

SHANGHAIM, Jun. 21 (SMM) – On Wednesday, SHFE 1708 copper opened at RMB 45,470/mt and then advanced to RMB 45,610/mt. The contract rallied at the tail of trading after a slight decline and closed at RMB 45,520/mt, down RMB 390/mt. Positions increased 1,806 to 206,000 and trading volumes rose 19,146 to 194,000 lots. People’s Bank of China withdrew RMB 40 billion and stopped 14-day and 28-day reverse repos for two days in a row. Market participants were wary of investment.

SHFE 1708 copper will move with pressure from the moving averages.

Key Words:  SHFE copper  LME copper  copper prices 

SHFE Copper Closes with Losses (2017-6-21)

Price Review & Forecast 06:04:06PM Jun 21, 2017 Source:SMM

SHANGHAIM, Jun. 21 (SMM) – On Wednesday, SHFE 1708 copper opened at RMB 45,470/mt and then advanced to RMB 45,610/mt. The contract rallied at the tail of trading after a slight decline and closed at RMB 45,520/mt, down RMB 390/mt. Positions increased 1,806 to 206,000 and trading volumes rose 19,146 to 194,000 lots. People’s Bank of China withdrew RMB 40 billion and stopped 14-day and 28-day reverse repos for two days in a row. Market participants were wary of investment.

SHFE 1708 copper will move with pressure from the moving averages.

Key Words:  SHFE copper  LME copper  copper prices