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DashboardDatabaseProReportsEventsCar InsightSHANGHAI, Nov. 2 (SMM) – SHFE 1401 copper contract price opened RMB 100/mt lower at RMB 51,730/mt on Friday. Upbeat China manufacturing PMI and rising Chinese A-shares drove the red metal up to RMB 52,290/mt. Finally, SHFE 1401 copper contract ended RMB 410/mt or 0.79% higher at RMB 52,240/mt. Trading volumes and positions shrank by 21,420 lots and 12,602 lots, respectively. The rally, however, was driven mainly by short sellers closing positions. Longs may take profits at highs after copper prices rise further.
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