SHANGHAI, Aug. 15 (SMM) – The most active SHFE 1410 copper contract followed LME copper prices down to RMB 48,620/mt after starting Thursday’s night session at RMB 48,840/mt, and closed down RMB 290/mt at RMB 48,740/mt. During the night session, trading volumes for the most active contract were 150,000 lots, and positions gained by 476 lots.
On Friday, SHFE copper prices failed to break above the RMB 49,000/mt mark during the morning trading session, but then surged to a high of RMB 49,150/mt subsequently. The price of the red metal fell back at the tail of the trading to close down RMB 120/mt, or 0.24%, at RMB 48,910/mt. Trading volumes for the SHFE 1410 copper contract shed by 32,918 lots, and positions decreased by 6,960 lots.