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Tags: SHFE copper,  aluminum,  lead,  aluminium sheet,  tin,  nickel prices

SHANGHAI, Jun. 30 (SMM) – Copper Prices for the most active SHFE copper contract rallied to RMB 49,700/mt after starting Thursday’s night session at RMB 49,540/mt, and ended up RMB 220/mt at RMB 49,630/mt. Trading volumes for the most active contract stood at around 150,000 lots, and positions surged by 10,766 lots. On Friday, SHFE copper prices hovered mostly around RMB 49,600/mt, and finished up RMB 110/mt, or 0.22%, at RMB 49,520/mt. Trading volumes for the most active contract decreased by 47,052 lots, and positions gained by 5,606 lots. In the Shanghai physical market, copper was offered Friday at a RMB 160-320 premium over the SHFE front-month copper contract. Traded prices were RMB 50,550-50,650/mt for standard-quality copper and RMB 50,670-50,730/mt for high-quality copper. As SHFE copper prices hovered at high levels, cargo holders moved goods at lower premiums during the last trading day at the end of June. Prices for high-quality copper traded at lower levels due to sufficient supply, while those for standard-quality copper were around RMB 100/mt lower than high-quality copper. Meanwhile, hydro-copper prices were held firm due to shortages of supply. Some middlemen with ample cash flows entered the market to buy, but the majority remained cautious. Downstream producers slightly ramped up purchases ahead of the weekend, with transactions improving slightly on Friday.

from metal.com