SHFE 1507 Copper Ends down RMB 230/mt (May 8, 2015)

SHANGHAI, May 8 (SMM) – SHFE 1507 copper contract prices opened at RMB 45,910/mt Thursday night and closed down RMB 50/mt at RMB 45,830/mt, with a session high seen at RMB 46,050/mt and low-end price at RMB 45,780/mt. China’s foreign trade data and the US nonfarm payroll data will be released today.

The July-delivery copper hovered near RMB 45,900/mt Friday with resistance at RMB 46,000/mt, and closed up RMB 90/mt at RMB 45,970/mt. Trading volumes declined 52,390 lots, and positions were up 5,250.