SHFE Copper Closes up (Jun. 16, 2016)

SHANGHAI, Jun. 16 (SMM) – Overnight, SHFE 1608 copper gapped higher at RMB 35,890/mt and ended at RMB 35,740/mt, up RMB 570/mt. Positions were down 14,036. 

On Thursday, SHFE 1608 copper opened at RMB 35,720/mt and once sank to the 5-day moving average. The red metal finally closed at RMB 35,410/mt. Positions were down 24,810. Positions of all SHFE copper contracts fell 46,088 to 670,000 with trading volumes at 490,000 lots.