SHANGHAI, Jun. 12 (SMM) – The most active SHFE copper contract swung by around RMB 250/mt after starting Wednesday’s night session at RMB 47,550/mt, meeting resistance at RMB 47,780/mt, and ended down RMB 30/mt at RMB 47,650/mt. During the night session, traded volumes for the most active contract totaled some 100,000 lots, and positions decreased by 2,332 lots.
On Thursday, SHFE copper prices dipped to a low of RMB 47,450/mt during the afternoon trading session, and closed down RMB 220/mt, or 0.46%, at RMB 47,460/mt. Traded volumes for the most active contract contracted by 49,368 lots, and positions shrunk by 13,010 lots.