SHFE Copper Closes Down RMB 100/mt at RMB 49,430/mt on Increasing Bears (Sept. 1, 2014)

SHANGHAI, Sept. 1 (SMM) – The most active SHFE 1411 copper contract challenged the RMB 50,000/mt mark after opening last Friday’s night session at RMB 49,610/mt, and ended up RMB 260/mt at RMB 49,800/mt. During the night session, trading volumes for the most active contract totaled around 70,000 lots, and positions added by 4,942 lots.

On Monday, SHFE copper hovered largely between RMB 49,750-49,950/mt, but fell at the tail of the trading to finish at an intraday low of RMB 49,430/mt, down RMB 100/mt, or 0.2%. Trading volumes for the SHFE 1411 copper contract gained by 994 lots, and positions increased by 17,772 lots.