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Home / Metal News / SHFE Copper to Extend Gains (2017-8-29)

SHFE Copper to Extend Gains (2017-8-29)

Aug 29, 2017 09:47

Source:SMM

SHFE 1710 copper hit new highs yesterday, and will rise further to RMB 52,400-52,900/mt today.

SHANGHAI, Aug. 29 (SMM) – SHFE 1710 copper hit new highs yesterday, and will rise further to RMB 52,400-52,900/mt today. Market should closely watch whether downstream producers will accept such high prices and where will capital go after this round of gains. LME copper will move at USD 6,730-6,780/mt.

Spot discounts are expected at RMB 70-130/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-29)

shfe copper prices

copper prices

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The copper prices edged lower and moved between 69,000-70,500 yuan/mt last week.

Jan 10, 2022 16:35

Analysis

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SHFE copper prices trended lower last week, with the support at 68,500 yuan/mt for the most active contract. The market has priced in the COVID-19 variant in South Africa.

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UBS Raises Forecast for International Copper Prices

he investment bank UBS said that copper physical premiums in various places have risen, and copper stocks on global exchanges have fallen, especially in China, according to MiningWeekly.

Oct 26, 2021 16:51

Industry

UBS Raises Forecast for International Copper Prices

Shanghai Copper Market Movement (2017-9-27)

Copper in Shanghai spot market was offered at premiums of 150-200 yuan/tonne over SHFE 1710 copper on Wednesday.

Sep 27, 2017 14:23

SMM Insight

Shanghai Copper Market Movement (2017-9-27)

Sudden Drop in SHFE Copper Triggers Bearishness in Shanghai Spot Market, SMM Says

Market players in Shanghai spot copper market became bearish today after SHFE copper unexpectedly fell 100 yuan/tonne before noon.

Sep 7, 2017 13:22

SMM Insight

Sudden Drop in SHFE Copper Triggers Bearishness in Shanghai Spot Market, SMM Says

Lower Supply to Sustain Imported Copper Premiums in Shanghai Spot Market, SMM Says

Supply of imported copper in Shanghai spot market will see a temporary decline, and this will allow its premiums to continue, SMM expects.

Sep 1, 2017 13:47

SMM Insight

Lower Supply to Sustain Imported Copper Premiums in Shanghai Spot Market, SMM Says

SHFE 1710 Copper Ends with Small Gains (2017-8-29)

SHFE 1710 copper opened at RMB 52,740/mt on Tuesday, and hit a high of RMB 52,940/mt.

Aug 29, 2017 16:05

SMM Comments

SHFE 1710 Copper Ends with Small Gains (2017-8-29)

Deadlock Persists in Shanghai Spot Copper Market, SMM Says

Sellers and buyers in Shanghai spot copper market are still in a deadlock today.

Aug 23, 2017 14:13

SMM Insight

Deadlock Persists in Shanghai Spot Copper Market, SMM Says

Trading Turns Muted in Spot Market after SHFE Copper Hits Over 3-Year High, SMM Says

SHFE copper jumped above 51,000 yuan/tonne to the highest level in three and a half years on Tuesday.

Aug 22, 2017 13:36

SMM Insight

Trading Turns Muted in Spot Market after SHFE Copper Hits Over 3-Year High, SMM Says

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SHFE Copper to Extend Gains (2017-8-29)

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