SHANGHAI, Aug. 4 (SMM) –As LME copper prices slumped overnight, SHFE 1110 copper contract prices, the most active one, opened down RMB 430/mt at RMB 71,630/mt on Thursday, with prices fluctuating weakly during the whole trading day given resistance at the daily moving average. Due to a rebounding US dollar index, the resistance at USD 9,600/mt for LME copper prices, as well as weak domestic stock markets, SHFE three-month copper contract prices fell to a low at RMB 71,200/mt, and kept fluctuating around RMB 71,550/mt after gaining support at the 30-day moving average. SHFE three-month copper contract prices followed LME copper prices to return above the daily moving average at the tail of trading, paring previous declines, as the US dollar index fell after initially increasing. Finally, the most actively-traded copper contract prices closed at RMB 71,610/mt, down RMB 450/mt or 0.62%. Positions for the most actively-traded copper contracts were down 2,696 lots, while trading volumes were up 23,974 lots. SHFE three-month copper contract prices lowered to test the 30-day moving average after losing the 20-day moving average twice, and were expected to fall further due to the downside technical index.