SHANGHAI, Aug. 12 (SMM) – The most active SHFE 1410 copper contract started Monday’s night session at RMB 49,930/mt, and then hovered largely between RMB 49,800-49,970/mt before ending down RMB 60/mt at RMB 49,870/mt. During the night session, trading volumes for the most active contract tumbled to around 60,000 lots, and positions rose slightly by 158 lots.
On Tuesday, SHFE copper prices fell to as low as RMB 49,470/mt due to broad sell-offs, and fluctuated largely around RMB 49,600/mt during the afternoon trading session. The price of the red metal followed SHFE zinc prices up to recoup most losses to finish down RMB 140/mt, or 0.28%, at RMB 49,790/mt. Trading volumes for the SHFE 1410 copper contract added by 37,974 lots, and positions increased by 11,358 lots.