SHANGHAI, Sept. 1 (SMM) –SHFE 1111 copper contract prices, the most active one, opened up RMB 320/mt at RMB 68,510/mt on Thursday, with prices falling down after initially increasing. In the morning business, SHFE three-month copper contract prices broke the resistance of RMB 68,500/mt in the wake of the better-than-expected China’s PMI data for August released by the China Federation of Logistics and Purchasing (CFLP), reaching to an intraday high of RMB 68,690/mt. In the afternoon session, however, as LME copper prices fell to USD 9,150/mt due to a rally in the US dollar, SHFE three-month copper contract prices met resistance at the daily moving average, and dropped to a low of RMB 68,130/mt. Finally, SHFE 1111 copper contract prices closed at RMB 68,190/mt, flat with the previous day’s settlement prices. Positions for SHFE 1111 copper contracts were up 4,184 lots, and trading volumes were up 46,322 lots. Although SHFE copper prices already stood above the 5-day moving average for the week, the shorts increased sell-off pressures at high prices. With a slower rising pace of technical indicators, SHFE three-month copper contract prices failed to really break the resistance at RMB 68,500/mt.