SHANGHAI, Apr. 9 (SMM) –The most actively-traded SHFE 1207 copper contract opened RMB 90/mt higher at RMB 60,160/mt Monday. China's National Bureau of Statistics in the morning announced that China's Consumer Price Index (CPI) for March rose by 3.6% YoY, while Producer Price Index (PPI) fell by 0.3% YoY, compelling SHFE copper prices to slide rapidly. But as some long investors entered the market, SHFE copper prices were pushed up to levels above the daily moving average and basically fluctuated narrowly around RMB 60,200/mt in the afternoon trading. At the tail of trading, Chinese stock markets fell from previous highs, and positions were closed in large quantities, which led SHFE copper prices to lose the RMB 60,000/mt point before sink to an intraday low at RMB 59,810/mt. Finally, SHFE 1207 copper contract prices ended RMB 230/mt or 0.38% lower at RMB 59,840/mt. Positions and trading volumes for 1207 copper contracts increased by 4,250 lots and 38,188 lots, respectively. Long and short investors continued to struggle at the RMB 60,000/mt mark during the day, but SHFE copper prices failed to break resistance at RMB 60,400/mt, the 20-day moving average. Besides, LME copper market will be open Tuesday, so short term speculators kept cautious at the tail of trading. Hence, SHFE copper prices will lurch near the current levels over the near term.