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Tags: copper prices,  aluminum prices,  lead prices,  zinc prices,  tin prices,  aluminium circle

SHANGHAI, Feb. 26 (SMM) – Copper: SHFE copper prices fluctuated widely last week. Trading for SHFE copper contract was more brisk in night sessions, with a trading range at one point expanding to RMB 3,000/mt. SHFE copper prices mainly moved around RMB 45,000/mt, and were more resistant to declines than LME copper prices. Positions for SHFE copper plunged by nearly 40,000 lots. SHFE 1406 copper contract prices are expected to move between RMB 44,800-46,500/mt this week. The SHFE/LME copper price ratio may also recover slightly. Traders in spot copper markets purchased at lows last week and downstream buyers also went bargain hunting, but later held back after copper prices rebounded. As a result, spot trading showed limited improvements. Speculators continued to buy spot goods and sell futures. High-quality copper was favored by dealers, while downstream buyers mainly purchased standard-quality copper.   Aluminum: SHFE 1406 aluminum contract prices were down for six straight days to RMB 12,635/mt and led losses among SHFE base metal prices due to weak demand in physical markets. In China's physical markets, although firm SHFE 1404 aluminum contract became the current-month contract, spot aluminum prices felt no support and remained soft. Last Thursday, SMM spot aluminum prices fell below RMB 12,400/mt, causing downstream producers to turn cautious and buy only on an as-needed basis.   

from metal.com