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Home / Metal News / SHFE Copper Closes with Big Gains (2017-7-12)

SHFE Copper Closes with Big Gains (2017-7-12)

Jul 12, 2017 18:16

Source:SMM

SHFE 1709 copper opened at RMB 47,330/mt and closed at RMB 47,250/mt, up RMB 410/mt.

SHANGHAIM, Jul. 12 (SMM) – On Wednesday, SHFE 1709 copper opened at RMB 47,330/mt and then fluctuated at around RMB 47,360/mt narrowly after slight increase. During the afternoon trading, SHFE 1709 copper advanced to RMB 47,470/mt after Argentina called Glencore’s Alumbrera copper mine to close down. The contract fell back with rising US dollar index and closed at RMB 47,250/mt, up RMB 410/mt. Positions increased 2,488 to 202,000 and trading volumes rose 44,382 to 223,000 lots. Positions of all SHFE copper contracts were up 2,772 to 591,000.

SHFE 1709 copper will keep strong in a short term in anticipation of copper ore supply reduction.

SHFE copper

LME copper

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Nov 15, 2021 14:47

Analysis

Copper Prices to Edge up amid Low Inventory

Key Copper Companies Issued Good Earnings Reports for Third Quarter on Higher Copper Prices

Since the beginning of this year, the copper prices have continued to rise, reaching the highest level since May 2006 in May. The high copper prices have made relevant companies profitable.

Nov 4, 2021 17:32

Analysis

Key Copper Companies Issued Good Earnings Reports for Third Quarter on Higher Copper Prices

SHFE Copper to Underperform LME Copper (2017-8-24)

Copper market lacks rising momentum, and LME copper will meet resistance at USD 6,600/mt, and SHFE copper will underperform LME copper.

Aug 24, 2017 09:48

SMM Comments

LME Copper to Move Lower (2017-5-4)

LME copper will move at USD 5,560-5,610/mt during Asian trading hours on Thursday and SHFE 1706 copper will move at RMB 45,400-45,800/mt.

May 4, 2017 09:36

SMM Comments

LME Copper to Move Lower (2017-3-13)

LME copper will trade at USD 5,700-5,760/mt on Monday and SHFE 1704 copper will move at RMB 46,800-47,300/mt.

Mar 13, 2017 09:32

SMM Comments

LME Copper to Move Lower (2017-3-10)

LME copper will trade at USD 5,650-5,710/mt on Friday and SHFE 1704 copper will move at RMB 46,000-46,500/mt.

Mar 10, 2017 09:54

SMM Comments

SHFE Copper Closes with Losses (2017-3-9)

SHFE 1705 copper opened at RMB 46,900/mt and closed at RMB 46,570/mt.

Mar 9, 2017 17:15

SMM Comments

SHFE Copper Closes with Losses (2017-3-9)

LME Copper to See Range-Bound Trading (2017-3-3)

LME copper will trade at USD 5,900-5,980/mt on Friday and SHFE 1704 copper will move at RMB 47,900-48,500/mt.

Mar 3, 2017 09:25

SMM Comments

LME Copper to See Range-Bound Trading (2017-3-3)

LME Copper to Stay Firm (2017-3-2)

LME copper will trade at USD 5,960-6,060/mt on Thursday and SHFE 1704 copper will move at RMB 48,500-49,100/mt.

Mar 2, 2017 09:41

SMM Comments

SHFE Copper Finishes Lower (2017-2-22)

SHFE 1704 copper started at RMB 49,040/mt and ended at RMB 48,660/mt, down RMB 390/mt.

Feb 22, 2017 16:14

SMM Comments

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SHFE Copper Closes with Big Gains (2017-7-12)

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