SHFE Copper Closes Up RMB 650/mt at RMB 50,760/mt on Increasing Buying (August 22, 2014)

SHANGHAI, Aug. 22 (SMM) – The most active SHFE 1410 copper contract surged to RMB 50,640/mt after starting Thursday’s night session at RMB 50,250/mt, and closed up RMB 280/mt at RMB 50,390/mt. During the night session, trading volumes for the most active contract hovered at around 200,000 lots, and positions added by 4,642 lots.

On Friday, SHFE copper initially soared to RMB 50,850/mt, and closed up RMB 650/mt, or 1.3%, at RMB 50,760/mt. Trading volumes for the SHFE 1410 copper contract shrank by 64,696 lots, and positions decreased by 3,596 lots. Trading volumes for the SHFE 1411 copper contract rose by 1,018 lots, and positions increased by 18,430 lots.