SHANGHAI, Oct. 20 (SMM) – LME three-month copper rose to USD 6,650/mt at a time last Friday and finished at USD 6,629/mt, up USD 42/mt.
The most active SHFE copper contract started at RMB 46,700/mt for Friday’s night session, and then stabilized before closing the session up RMB 330/mt at RMB 46,920/mt. Trading volumes of the most active contract fell to 120,000 lots, while positions fell by 3,884 lots.
SHFE 1501 copper contract may trade at RMB 46,500-47,200/mt this Monday. In China’s spot markets, copper will be offered at premiums of RMB 80-150/mt against SHFE 1411 copper contract prices.