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Tags: SHFE copper prices,  SHFE aluminum prices,   aluminium circle,  SHFE zinc prices,  Shanghai tin prices,  Shanghai nickel prices

SHANGHAI, Nov. 14 (SMM) –    Copper  Copper for January delivery on the Shanghai Futures Exchange, the most active contract, edged down to RMB 47,250/mt during Wednesday’s night session after starting at RMB 47,320/mt. The price of the SHFE 1501 copper contract later rebounded to RMB 47,460/mt and finished up RMB 180/mt, or 0.38%, at RMB 47,440/mt. During the night session, positions for the most active contract gained by 4,280 lots, while trading volumes hovered at some 100,000 lots.   On Thursday, SHFE copper fluctuated largely around RMB 47,350/mt during the morning trading session and advanced to RMB 47,400/mt before ending up RMB 140/mt, or 0.3%, at RMB 47,400/mt. Trading volumes for the SHFE 1501 copper contract decreased by 20,398 lots, and positions shed by 2,048 lots.   Physical copper in Shanghai was quoted Thursday at a RMB 20-140/mt discount to the SHFE 1411 copper contract. Traded prices were RMB 47,950-48,000/mt for standard-quality copper and RMB 47,970-48,070/mt for high-quality copper.   After the SHFE/LME copper price ratio improved to 7.1, cargo holders of imported copper became more willing to sell. Meanwhile, sellers ramped up moving goods to capitalize on the wide gap between the SHFE 1411 and 1412 copper contracts before the delivery of the front-month contract. The resulting surge in copper supply caused physical discounts to widen to some RMB 80/mt by the midday. Middlemen and downstream producers stayed on the sidelines on Thursday, expecting prices to fall further.   As SHFE copper moved in narrow ranges during the afternoon trading session, physical copper was quoted at a RMB 70-120/mt discount and traded at RMB 47,950-48,050/mt. Cargo holders continued to sell aggressively, but few transactions were reported on Thursday. 

from metal.com