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Home / Metal News / Shanghai copper hit ‘limit down’

Shanghai copper hit ‘limit down’

Mar 18, 2020 14:28

Source:SMM

The most active copper contract on the Shanghai Futures Exchange for May delivery fell 6% to its daily limit-down at 39,960 yuan/mt in Wednesday afternoon trade.

SHANGHAI, Mar 18 (SMM) – The most active copper contract on the Shanghai Futures Exchange for May delivery fell 6% to its daily limit-down at 39,960 yuan/mt in Wednesday afternoon trade.

Meanwhile, three-month copper on the London Metal Exchange dropped more than 3% to a new 40-month low of $4,950/mt.

Market commentary

Copper

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SHFE nonferrous metals rose for the most part on Monday January 25. Copper edged up 0.07%, zinc added 0.74%, lead jumped 2.91%, nickel advanced 0.88% and tin surged 4.09%, while aluminium shed 0.17%.

Jan 25, 2021 19:08

SMM Comments

SMM Evening Comments (Jan 25): Nonferrous metals on the SHFE rose broadly, tin surged 4.09%

SMM Morning Comments (Jan 21): Shanghai base metals were mostly higher after Wall Street surged to records following Biden's inauguration

Nonferrous metals on the SHFE were mostly higher on Thursday morning, and their counterparts on the LME rose across the board after stocks on Wall Street sailed to record highs as US President Joe Biden was sworn into office.

Jan 21, 2021 10:00

SMM Comments

SMM Morning Comments (Jan 21): Shanghai base metals were mostly higher after Wall Street surged to records following Biden's inauguration

SMM Morning Comments (Dec 14): Nonferrous metals on the LME advanced across the board, the SHFE complex mixed

LME base metals rose across the board on Monday morning, while their counterparts on the SHFE set for a mixed start.

Dec 14, 2020 10:11

SMM Comments

SMM Morning Comments (Dec 14): Nonferrous metals on the LME advanced across the board, the SHFE complex mixed

SMM Morning Comments (Dec 10): Shanghai base metals were mostly higher, while the LME complex fell for the most part

Nonferrous metals on the SHFE rose for the most part on Thursday morning, holding onto overnight gains, while their counterparts on the LME cruised lower mostly.

Dec 10, 2020 09:55

SMM Comments

SMM Morning Comments (Dec 10): Shanghai base metals were mostly higher, while the LME complex fell for the most part

SMM Evening Comments (Dec 7): Shanghai nonferrous metals ended mixed, nickel rose 2.91%

SHFE nonferrous metals closed mixed on Monday November 7. Investor sentiment improved last week around coronavirus vaccine rollouts and U.S. stimulus hopes, which fueled a record-setting session Friday on Wall Street.

Dec 7, 2020 18:00

SMM Comments

SMM Evening Comments (Dec 7): Shanghai nonferrous metals ended mixed, nickel rose 2.91%

Medium-term copper market has broad prospects

The rebound in copper prices was attributable to the recovery of demand and supply trends in China since Q2, said Rio Tinto's Laure Baratgin.

Dec 4, 2020 10:37

Reminder SMM Insight

Medium-term copper market has broad prospects

Copper market transparency necessary for sustainable growth

In order to achieve a sustainable future, mining giant BHP urges for greater transparency in the pricing mechanisms in the copper market.

Dec 4, 2020 08:44

SMM Comments Analysis

Copper market transparency necessary for sustainable growth

SMM Morning Comments (Dec 2): Shanghai base metals mostly declined, the LME complex mixed

Nonferrous metals on the SHFE were mostly lower on Wednesday morning, while their counterparts on the LME set for a mixed start.

Dec 2, 2020 10:16

SMM Comments

SMM Morning Comments (Dec 2): Shanghai base metals mostly declined, the LME complex mixed

SMM Morning Comments (Oct 29): Base metals broadly weakened amid worries about surging COVID-19 cases

Nonferrous metals on the SHFE and LME both fell broadly on Thursday morning, extending losses, as surging global COVID-19 cases triggered more restrictions and stoked concerns about economic recovery.

Oct 29, 2020 10:11

SMM Comments

SMM Morning Comments (Oct 29): Base metals broadly weakened amid worries about surging COVID-19 cases

Shanghai bonded copper stocks added 16,000 mt on week

Stocks of copper in Shanghai bonded areas increased for the twelfth consecutive week, as overseas arrivals increased.

Oct 23, 2020 13:53

Analysis

Shanghai bonded copper stocks added 16,000 mt on week

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Shanghai copper hit ‘limit down’

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