Shanghai Copper and Aluminum Futures End Mixed on December 12

Strategic Insights -

Shanghai copper futures surged higher due to increased demand caused by a potential strike at Xstrata Plc's Altonorte copper smelter in Chile. The Shanghai aluminum futures, however, ended mixed, reflecting a complex market balance between supply and demand factors.

Key Takeaways:

  • Shanghai copper futures ended higher, up 660 renminbi (RMB) or 1% to 65540 RMB per ton, driven by a potential strike at Xstrata Plc's Altonorte copper smelter in Chile.
  • Aluminum futures traded on the Shanghai Futures Exchange ended mixed, with some contracts increasing and others decreasing in value.
  • The complex market balance between supply and demand factors contributed to the mixed performance of Shanghai aluminum futures.
  • The Shanghai Futures Exchange reported trading volumes and turnover data for aluminum and copper futures contracts on December 12.
  • The exchange noted that one lot of aluminum or copper futures represents 5 tons of the metals.

Statistics:

  • Copper futures traded on the Shanghai Futures Exchange saw a close price of 65540 RMB per ton on December 12.
  • Aluminum futures traded on the Shanghai Futures Exchange had a close price of 20320 RMB per ton on some contracts on December 12.
  • Trading volume for aluminum futures contracts on December 12 was 1230 lots, with a turnover of 12089910 RMB.
  • Trading volume for copper futures contracts on December 12 was 1080 lots, with a turnover of 35346350 RMB.
  • The Shanghai Futures Exchange reported interest-settled previous trading data for both aluminum and copper futures contracts on December 12.

Sources:

  • Source: Shanghai Futures Exchange
  • Source: Shanghai Futures Exchange